Pennington Point

Pennington Point is a 55+ age-restricted community in Hopewell Township, Mercer County, ZIP 08534, built in 1995 and laid out along one street, Woolsey Ct. Every home here carries the 55+ age restriction without exception, which sets it apart from the family-oriented neighborhoods that make up most of the surrounding Hopewell Valley market. The homes are attached and condominium-style, a mix of interior and end-of-row townhouses, twin or semi-detached units, and flats, all put up in the same 1995 build. Market-rate closings over the past two years have run from about $355,000 to $480,000, a rough midpoint near $400,000, which makes Pennington Point one of the more accessible ways into an age-restricted community in the Hopewell Valley area. A separate and smaller group of one-bedroom units is deed-restricted moderate-income affordable housing that trades far below that range; those sales are described in full below and are deliberately kept out of the market-rate figures.

The homes

Pennington Point's homes fall into three clean size tiers, and in the sales record bedroom count and square footage line up exactly. The largest plan is a three-bedroom, two-and-a-half-bath unit at 1,458 square feet. The most common is a two-bedroom, two-bath unit at 1,194 square feet, which accounts for most of the market-rate turnover. The smallest is a one-bedroom, one-bath unit at 764 square feet. Everything was built in 1995, so construction, systems, and original finishes across the community all started from the same baseline, and the differences a buyer sees today come from how individual owners have updated kitchens, baths, and flooring in the three decades since. All of the homes are attached: BrightMLS records the mix as interior and end-of-row townhouses, twin or semi-detached units, and flats, and the same address is sometimes coded differently from one listing to the next, so the style label on any single listing is worth confirming in person rather than treating as a fixed classification. What is not in doubt is that these are attached homes with shared walls, not detached houses on their own lots.

Setting

Pennington Point sits in Hopewell Township, the largely rural Mercer County municipality that surrounds Pennington Borough, and its homes carry the 08534 ZIP code. The entire community is on one street, Woolsey Ct, so the layout is compact and self-contained, with no through traffic and short walking distances between buildings. Pennington's small downtown, with a grocery store, restaurants, coffee shops, a pharmacy, and everyday services, is a short drive away, which matters more than usual for a buyer who would rather not build a whole day around an errand run. Route 31 runs north and south nearby, and I-295 connects to Princeton, Trenton, and the wider region for medical appointments, shopping, and family visits. The address falls in the Hopewell Valley Regional School District, though as in any age-restricted community, the district is a secondary consideration here rather than the reason buyers choose Pennington Point.

Amenities and lifestyle

The core of the proposition at Pennington Point is that the association, not the homeowner, carries the outdoor work. HOA dues on recent sales have run roughly $360 to $567 a month, with the most recent market-rate closings sitting between about $435 and $570, and newer resales toward the top of that band, which tracks with associations across the region raising dues to keep pace with reserve funding and insurance costs. As in most attached-home communities of this type, those dues fund common areas and exterior upkeep that an owner of a detached house would otherwise handle alone, which is the practical reason many buyers move here from a larger property. The single-street layout keeps a walk to a neighbor's door short, and compact 55+ communities like this one tend to feel sociable without needing a large campus to make it happen. Because an association's amenity list and the exact inclusions in the monthly fee can change from year to year, ask for the current governing documents and budget and confirm both directly with the association before writing an offer, rather than relying on what a listing sheet said in a prior year.

Market position

Market-rate closings at Pennington Point over the past two years have run from about $355,000 to $480,000, with a rough midpoint near $400,000. Two-bedroom units make up most of that volume and have traded from $355,000 to $425,000, with most sales landing between $380,000 and $425,000. Only two three-bedroom units closed in that window, at $465,000 and $480,000, too thin a sample to call a range but enough to show where the largest plan sits. At those numbers, Pennington Point is one of the more accessible age-restricted options in the Hopewell Valley area and sits well below what a detached 55+ home in the same township costs. Separate from the open market, a handful of the 764 square foot one-bedroom units are deed-restricted moderate-income affordable homes: 51 Woolsey Ct closed at $166,000 in February 2025 and 49 Woolsey Ct at $174,000 in April 2023, and both are described in their own MLS listings as moderate-income units requiring the buyer to qualify through an administering agency. A third one-bedroom of the same size, 114 Woolsey Ct, closed at $110,000 in October 2019 and is very likely part of the same program. Those prices are not available to an open-market buyer, so folding them into a price range would badly understate what buying here actually costs, and the income qualification attaches only to those specific units, not to the community as a whole. Because Pennington Point is small, uniform in age, and narrow in its size tiers, comparable sales here are unusually direct, but only a few units trade in a typical year, which is exactly the situation where pricing against true in-community comps rather than townwide averages makes the difference.