The Princeton, NJ Real Estate market continued its red hot pace in June. It took only 39 days for the average Princeton home to go under contract and the average sales price well exceeded $1 million again. Click here for a complete list of all the homes that settled in Princeton including prices and specs.
Here is the breakdown of the Princeton Real Estate Market:
The big story in the markets is inventory, or the lack of it. YTD in Princeton 271 homes have been put on the market vs 309 YTD in 2016, over a 10% decrease. Considering the pace of sales is as high as last year with less inventory we are seeing a continued upward pressure on home prices.
Princeton saw $54.539 million in homes settle in June with 47 houses close. June was the largest closing month of the year so far in both units and dollar volume.
The average sales price for June was $1.160 million.
Sellers retained 98.4% of their original asking price.
An incredible 20 of the homes that closed in June in Princeton were purchased with cash. That is 42% of the buyers in June paid cash for their homes.
The average tax bill for Princeton homes that closed in June was $20,020.
The average number of of bedrooms was 4 and bathrooms 3.
Colonials were again the most popular home bought with 25 of the overall market or 53% of the closings.
Want to see the latest listings to hit the Princeton Market? Take a look at the houses that hit the market in the last 7 days:
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