East Windsor, Hightstown Real Estate Values Still Lagging

Local real estate prices are continuing to drop, according to Prudential Fox & Roach, Realtors HomExpert Market Report.

East Windsor

According to the report, the number of properties in East Windsor that sold during the first quarter of 2013 was 43, the same as the first quarter in 2012. In 2011, 30 homes were sold and in 2010 44 were sold.

In addition, the median price of properties sold during the first quarter of 2013 dropped 6.8 percent from the same time last year and is down 30.5 percent  from 2010.

According to the report, the median price of properties sold during the first quarter of 2013 was $193,000, down from $207,000 in 2012. In 2011, the median price was $200,000, and $277,500 in 2010.

Also according to the report, properties for sale spent an average of 158 days on the market during the first quarter of 2013, 132 days in 2012, 153 in 2011, and 108 days during the first quarter of 2010.

Hightstown

According to the report, the number of properties in Hightstown that sold during the first quarter of 2013 was 14, up from the 10 sold during the same time in 2012. In 2011, two properties were sold during the first quarter and 15 during the first quarter in 2010.

In addition, the median price of properties sold in the borough during the first quarter of 2013 was $188,750, a 30 percent drop from the same time last year, when the median price was $271,000. In 2011, the median price was $271,000, and in 2010 it was $198,250.

Also in the report, properties in Hightstown spent an average of 228 days on the market during the first quarter of 2013, 133 in 2012, 38 in 2011, and 63 during the first quarter of 2010.

Here are some other findings in the report. To find it online, click HERE.

• Atlantic County median home prices decreased 14.6 percent to $175,000 in the first quarter of 2013, compared to the median sale price in the first quarter of 2012, which stood at $205,000. In the first quarter of 2013, Atlantic County saw 205 homes sold, a 14.6 percent decrease from the 240 homes sold in the first quarter of 2012. The average number of days a home remained on the market decreased to 141 days in the first quarter of 2013 from 145 days in the first quarter of 2012.
• Throughout Middlesex County, the number of homes sold during the first quarter of 2013 rose 1.1 percent, from 928 in 2012 to 938 this year. The median price for those homes rose 5.8 percent, from $240,000 in 2012 to $254,000 in 2013. Those homes spent 110 days on the market this year, compared with 108 days last year.

Findings are compiled using the company’s exclusive HomExpert Data, which analyzes TREND Multiple Listing Service (MLS) data and provides the timeliest information available in the industry. The HomExpert Market Report offers analysis of real estate activity regionally, by county, MLS area or zip code across the Prudential Fox & Roach service area.