Princeton University's legacy of high-quality education has trickled all the way down to the elementary level as one Realtor boasts that Princeton and surrounding areas have some of the best schools in New Jersey.

"Princeton actually is comprised of Princetown Township with the nucleus of Princeton Borough in the middle. The borough is home to Princeton University," explains Realtor Charlie Frank. "The school system is rated at or near the top within the entire state. Having a Princeton address is in high demand."

According to Frank, the housing supply remains relatively low to moderate and demand remains strong. "There has been weakening in demand at the higher price ranges," he says. "This will take a little time to filter downward but there is definite resistance starting from buyers. Mortgage rates have a minimal impact in this specific market however it remains a good idea to have your mortgage financing in place before starting your home search.

Good schools are also helping drive the real estate market in nearby Burlington. "Bordentown, Mansfield, Springfield, Columbus, North Hanover, and Chesterfield make up this section of Northern Burlington County," says Frank, "which has been visited with high quality construction at moderate pricing ($225-$350,000). Folks relocating from Northern New Jersey have fueled the high demand. Supply is low and steady mortgage rates are encouraging buyers to become part of the 'American Dream'.

In East Windsor, older suburban sections are about 50 years old on mature 1/2 acre lots, currently growing outward with lots of new construction starting in the mid $300's and upward, says Frank. "Traditionally noted for its excellent school system, East Windsor is an excellent location for commuters to New York City, literally minutes from the Princeton Junction Amtrak railroad station."

Prices continue to inch upwards due to demand despite a noticeable increase in the inventory levels at the higher prices, he notes.

Hamilton Township is one of the largest townships in the state and its school system is a magnet drawing in folks from the New York City area, says Frank. "Hamilton is a comfortable commute to New York City," he advises. "It's recent opening of a new Amtrak RR station is state of the art."

The Hamilton Township real estate market continues to sizzle, where homeowners are seeing top dollar for their homes. "Supply is low and demand is high," says Frank. "Having current mortgage pre-approval documentation is critical in the bidding process! If you are a homeowner and considering selling your home, now is the time."

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Published: June 6, 2002

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