Want to be the Princeton, NJ Real Estate Market Expert? Take a look at this exclusive report detailing home prices in Princeton since 2012. You can compare condo v single family, list to sale price ratio and look at the pricing trends. Enjoy.
Princeton Real Estate Market Report June 2017
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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Princeton Real Estate June Market Seminar
Not able to attend our Princeton Real Estate Market Update? Here are some of the slides presented tonight.
Princeton Market Report, May 2017
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.
A quick breakdown of the homes that Sold in Princeton is as follows (click here for full list):
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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Princeton, NJ Homes Sales Activity by Price Point
Where is the hottest spot in the Princeton, NJ Real Estate market?
If you break down the homes that sold in Princeton by price you can see the that the under $1 million market is the hottest part of the market.
In Princeton, homes under $1 million sold in an incredible 17.5 days and retained over 98% of their asking price.
For Princeton sellers $1-2 million homes took 121 days to sell and they retained 97% of their asking price.
For Princeton sellers $2 million+ the homes took an average of 241 days to sell and the sellers retained only 87% of their asking price.
Want to see Princeton homes for sale under $1 million? Take a look below.
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Princeton Market Update April 2017
The Princeton, NJ Real Estate market continues to be brisk, marked by a lack of inventory and high demand.
The average time it took to sell a home was 87 days.
The average sold price was $1.203 million, which is up over $200k from March closings.
Overall Sellers retained 94.9% of their asking price.
For Princeton homes under $1 million sellers sold in an incredible 17.5 days and retained over 98% of their asking price.
For Princeton sellers $1-2 million homes took 121 days to sell and they retained 97% of their asking price.
For Princeton sellers $2 million+ the homes took an average of 241 days to sell and the sellers retained only 87% of their asking price.
Colonials were the most popular style, accounting for 10 of the 17 closed homes.
The average annual tax bill for the April closed homes in Princeton was $21,000. The highest annual taxes were over $65,000 and the lowest $5,196.
5 of the 17 sold homes were bought with cash. The 12 homes that sold via mortgages all were conventional financing.
The Princeton swim clubs will be busy this summer as only one of the 12 houses that sold in April have in ground pools.
Take a look below for additional Princeton homes for sale.
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March 2017 Princeton Real Estate Market Report
Click Here for details on each home sold in March or take a look below at the recent market statistics.:
The average sales price for Princeton homes sold in March was $976,178.
It took 69 days for the average home in Princeton to close.
Princeton homeowners retained 96% of their asking price.
The average tax assessment for Princeton homes sold in March was $610,303.70
The average taxes for the homes that sold in March was $13,817.30
Five of the homes that closed in Princeton were new construction.
An incredible 12 of the 27 homes that closed in March were sold for cash. That is 44% of the Princeton market, where the average sales price was over $970,000 that sold for cash!
The average age of the homes that settled in March was 36.62 years.
The average home had 3.9 bedrooms and 3.4 baths.
Colonials were the most popular model with 14 homes of the 27 sold or 51% of the market.
Click here for details on the individual homes sold in March in Princeton.
Want to know more about the Princeton market? Call us at the Princeton office. We can help you buy, sell or invest in the Princeton market. 609-921-1900.
Weichert, Princeton leads the Princeton Real Estate Market
Who is the market leader in the Princeton, NJ Real Estate market? Weichert, Realtors is. We have the best internet strategy, the best marketing platform, the best Open House program and the best Associates. We sell Princeton. Call us to find out how we can help you buy and sell in the Princeton market. 609-921-1900.
Princeton, NJ Spring Real Estate Market Seminar
Want to know the direction of the spring market in Princeton and the surrounding towns? Be our guest at an upcoming Seminar on April 29th, 10:45 am. Seating is limited so RSVP is required to jwilton@weichertrealtors.net
Exclusive Princeton Listing in the Riverside Neighborhood
Weichert, Princeton is proud to offer this three bedroom, two and one half bath end-unit townhome at 35 Sergeant Street, Princeton. This office exclusive if offered for sale at $955,000. The beautiful homes features hardwood floors, a wood burning fireplace, sliding doors to a patio, huge windows, two car garage, a basement and a balcony. Call 609-921-1900 for an appointment.
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