Hopewell Resale Values (Pennington: real estate, prices, housing)

[nbrogan]

Can anyone please tell me if they have encountered a noticeable difference in housing resale values between Pennington and Hopewell. A real estate agent mentioned that there may be a lower resale value on a property in Hopewell than in Pennington, due to the relative proximities to I-95. Thank you!

[MoorestownResident]

Originally Posted by nbrogan

Can anyone please tell me if they have encountered a noticeable difference in housing resale values between Pennington and Hopewell. A real estate agent mentioned that there may be a lower resale value on a property in Hopewell than in Pennington, due to the relative proximities to I-95. Thank you!

I don't know if that's true. Hopewell has not been fairing well through the downturn in NJ. I chalk it up to overbuilding and oversupply more than proximity to 95.

[JBrown]

Originally Posted by nbrogan

Can anyone please tell me if they have encountered a noticeable difference in housing resale values between Pennington and Hopewell. A real estate agent mentioned that there may be a lower resale value on a property in Hopewell than in Pennington, due to the relative proximities to I-95. Thank you!

Your real estate "friend" is blowing smoke up your skirt. Check a map. The town of Pennington is CLOSER to I-95 than Hopewell....

It's less than 5 minute drive from Pennington to I-95, 20 minutes minimum from Hopewell to I-95. In fact, to get to I-95 from Hopewell you have to drive THRU Pennington before you get to I-95. I do it almost everyday...

[jerseyj]

Could also be that Hopewells largest employer (Merrill Lynch) has begun laying off. They speculate that 500 employees might lose their jobs at that facility.
Bristol-Myers (Hopewells 3rd largest employer) has also announced that they will be laying off as well.

We have friends in both Hopewell and Pennington and they view the proximity to I-95 as a plus!

[Nancy in Nokomis]

Pennington has always been known as the richer and more desirable town.

[ASM22]

Hopewell Township touches 95.

Hopewell Township is a large Town.

Hopewell Borough and Pennington Borough are two smaller towns that are located within Hopewell Township.

Housing prices have declined in the past two years like most of the country, but are not that bad.

Capital Health opening soon will probably increase pricing.

All 3 towns are approx. Same desirability.