February 26, 2010
How Do National and Regional and Local Sales Data Differ?

Single-Family Homes and Condos

Single-family home sales fell 6.9 percent to a seasonally adjusted annual rate of 4.43 million in January 2010 from a level of 4.76 million in December, but are 8.6 percent above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4 percent from a year ago.

Existing condominium and co-op sales dropped 8.1 percent to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1 percent above the 449,000-unit level a year ago. The median existing condo price was $172,400 in January, which is 1.4 percent higher than January 2009.

Regional Performance

Existing-home sales in the Northeast fell 10.9 percent to an annual pace of 820,000 in January 2010 but are 22.4 percent above a year ago. The median price in the Northeast was $245,300, a gain of 8.8 percent from January 2009.

Posted by: Bruce

January 14, 2010
Updated Neighborhood Sales Information

Sales data for the last two years has just been incorporated into the data supplied for each of Plainsboro Township's neighborhoods. The number of sales have remained fairly constant, and as you would expect sales prices have generally declined as values are being affected by the national economy.

Posted by: Bruce

December 07, 2009
December 2009 Market Conditions

Plainsboro currently has 49 homes for sale. Through today, there have been 221 homes sold so far this year. At this rate of home sales, it would take only 2 months to exhaust the supply, making this a strong seller's market. The average sales price has been $366,906 for homes were asking an average price of $390,130.

Information from TREND MLS - Information Deemed Reliable but Not Guaranteed.

Posted by: Bruce

November 07, 2009
First-Time Homebuyer Tax Credit Extended and Expanded

It’s now official, Congress has extended and expanded the existing $8,000 homebuyers tax credit and the President signed it into law on Friday, Nov. 6th.

The new law extends the existing tax credit for Plainsboro area buyers who have not owned a home that was their principal residence in the past three years and adds some new criteria and qualifying homebuyers.

The $8,000 credit was scheduled to lapse on December 1st, 2009 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30, 2010 and close by June 30, 2010.

The income limits have been raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.

The bill also made more Plainsboro, NJ homeowners eligible to claim the credit on their taxes. First-time buyers — those who have not owned a home in the past three years — still qualify for an $8,000 rebate. But now people who want to trade up can also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.

Posted by: Bruce

October 30, 2009
Plainsboro Quarterly Newsletter

The Plainsboro Reporter is a quarterly newsletter for residents that is mailed to all homes and businesses in the township. It is intended to keep residents informed of all municipal news, services and events throughout the year. If you have any questions or comments about the newsletter please contact the Township Administrator at 799-0909.

In addition to be mailed to all homes, the newletter is also available online as a PDF file. The Autumn 2009 issue is now available.

Posted by: Bruce

October 13, 2009
Luxury Homes in Plainsboro
Currently there are two homes priced over $1,000,000 for sale in Plainsboro.

One of them is in the Estates of Plainsboro and the other is located in Crossings at Grover's Mill East. Use the above link to delve further into the details.

Posted by: Bonnie

October 02, 2009
September 2009 Sales Numbers

Plainsboro Township monthly sales statistics derived from our local Multiple Listing Service known as TReND, show that 25 homes sold in Plainsboro Township this last month. With an average number of homes sold per month over the last year at 16 and with 77 homes currently on the market, it will only take about 4 months for all the inventory to sell.

These 25 homes sold for an average price of $375,464. The average sale price for the past year has been $384,488 for a home in the township of Plainsboro, NJ.

Posted by: Bonnie

September 26, 2009
Tick, Tick, Tick, Tick

Time is running out on the tax credit available to first time home buyers through the federal stimulus package. You must have purchased the home before the end of the day on November 30, 2009 to qualify.

First time home buyers are those who have not owned a home in the past three years, not that you have never purchased real estate.

Tick....

Posted by: Bonnie

August 07, 2009
July Market Conditions
The average number of monthly sales in Plainsboro has been 15 homes over the past year. Last month we had 27 sales at an average sales price of $499,973 well above the yearly average of $383,151. There are currently 96 properties available in the township making this a fairly steady market with 6 months of inventory accumulation.

Posted by: Bruce

June 26, 2009
Real Estate Market Conditions for Plainsboro Township
Six months through the year and checking out the real estate market in the Plainsboro area reveals that houses are selling. We are averaging 15 homes sold per month, and we have only 7 months of inventory unsold. Real estate is selling for about 93% of list price which is averaging $393,335.

Posted by: Bonnie