May was another blistering month for the Princeton Real Estate Market. The big story in Princeton is the lack of supply of homes for sale. YTD through May 2017 230 homes were put on the the market in Princeton vs 275 homes through May of last year, a 16% decrease. This lack of inventory continues to drive the overall market.
23 homes sold for over $25+ million in total sales volume.
The average sold price was $1.050 million.
An incredible 11 of the 23 homes that closed were paid in cash.
Houses that closed in May sold in a scorching 29 days.
Overall Princeton sellers retained 97.1% of their asking price.
In homes that were priced between $350-$600 sellers retained 98.2% of their original asking price.
In homes that were priced $600-$999 sellers retained 99% of their asking price.
In homes that were priced $1-2 million sellers retained 97% of their asking price.
In homes that were priced $2 million or more, sellers retained 93% of their asking price.
The average taxes for the Princeton sold homes in May was $18,278.
The average home was 56 years of age.
55% of the closed homes in Princeton in May were colonials, making it the most popular style of home sold YTD.
To preview some of the homes that have just hit the market in Princeton take a look below.
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