Montgomery Township is located on the northern border of Princeton, but at the southern end of Somerset County.  Although it has not suffered as much from the subprime crisis as Somerset County overall, it is not as strong a market as its neighbor on the northern border, Hillsborough, which though experiencing volume decline, has seen prices increase slightly.

For the year through September 30, Montgomery has experienced a drop in sales volume of more than 18%, compared to the same period last year, just as the subprime crisis hit.  Price changes have been minimal, but in the downward direction.  The average sale price through the third quarter this year is 2.7% less than last year for the same period, although the median sale price is virtually unchanged ($550,500 this year vs. $550,000 last - a miniscule increase this year).

There are significantly fewer listings available this year in Montgomery on October 1 - 117 vs. 142 last year, but a few more listings were taken in September 2008 than 2007.  With a lower number of sales reported in September, the supply/demand ratio is down compared to 2008.  The absorption rate climbed a full month since August - to 8.4 months, a market usually considered to favor buyers.

With the current financial troubles, buying or selling a home in Montgomery Township should not be done without a solid knowledge of the market.  Be sure to seek the advice and counsel of a Realtor® who is familiar with the market.