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Princeton Real Estate

2017 Princeton, NJ Spring Real Estate Market at a Glance

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Want to know what is happening in real estate markets in and around Princeton, NJ? Why are homes in Princeton and the surrounding towns selling so quickly? Inventory…or the lack of it.

As the slide below depicts inventory in Princeton and the surrounding towns is down dramatically. On the week of March 25th in 2011 Princeton had 180 available homes for sale. The pace of sales at the time would have taken 27 months to sell that inventory (Absorption Rate or Ab Rate in the slide below). Fast forward to the same week of March 25th 2017 and Princeton only has 102 homes for sale with 6.4 month Absorption Rate. That is 78 fewer homes for sale in the same week and they are selling three times as fast!

Hamilton is down 242 homes for sale (40% lower). Lawrenceville is down 77 homes for sale (37% lower). Ewing is down 126 homes for sale (46%) and so on right through the local markets.

Across the board in the major real estate markets in and around Princeton the big story of the spring market is and will be inventory….or the lack of it.

February 2017 Princeton Sold Real Estate Report

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Princeton Real Estate Update

The Princeton Real Estate market continues to be incredibly robust in 2017.  Here are some some key numbers and indicators for the Princeton real estate buyers and sellers:

  • Princeton inventory remains low. 19% fewer homes have been listed ytd 2017 and 16% more homes have closed in 2017 vs 2016. As the inventory continues to remain low it suggests overall that home prices will continue to rise, especially in the lower price ranges.
  • The average for all homes that closed in February retained 93.6% of their list price.
  • Homes that were listed below $1 million retained 97.5% of their list price
  • Homes that were listed over $1 million retained 89% of their list price. The data shows that the largest demand is in the more ‘affordable’ price ranges in Princeton.
  • 25% of the closings in February were cash purchases.
  • The average Princeton home that closed in February was 2407 square feet.
  • The average annual tax bill for closed homes was $16,348.

See detailed data here

Princeton Real Estate Summary May 2016

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Screen Shot 2016-06-10 at 2.54.57 PM

May was a very busy month in the Princeton Real Estate market. As you can see 17 homes settled in Princeton in May for an average price of $926,000.

Some interesting data on the Princeton Real Estate Market:

There are currently 176 active listings on the market and only 52 of them are under $1 million (less then 29% of the market).

In May 37 single family houses went under contract with a total of over $54 million in volume.

In May 5 condos/ townhouses went under contract with a total sales volume of $2.337 million.

Princeton has a lot of cash buyers! Of the 98 homes that settled YTD in Princeton 39 of them were cash buyers.

Princeton Real Estate Summary for December 2015

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Princeton December Summary

Click Here for a real estate summary for Princeton New Jersey during the month of December.

In December there were 32 Sold Listings.

The average Sold Price in Princeton was $1,001,594.

Houses were on the market for an average of 82 days.

For more information contact Weichert Princeton at (609) 921-1900.

 

 

 

2015 October Princeton Closed Real Estate Transactions

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Here is the list of homes that closed in Princeton last month.

Princeton Closed Real Estate Transactions October 2015*
Street Address Neighborhood Bds Bths LP SP DOM
529 Prospect Ave Riverside 4 2.2 $849,000 $860,000 9
183 Linden Ln None Available 3 1.1 $540,000 $540,000 6
140 Nassau St None Available 2 1.0 $450,000 $429,000 225
404 Franklin Ave None Available 3 1.1 $495,000 $510,000 8
227 Ridgeview Rd None Available 3 2.1 $1,050,000 $999,950 12
265 Ewing St Princeton East 5 3.0 $652,000 $599,900 44
124 Hunt Dr None Available 5 3.1 $1,625,000 $1,325,000 209
14 Wilton St Riverside 3 2.0 $625,000 $630,000 9
106 Drakes Corner Rd None Available 5 4.1 $1,725,000 $1,600,000 89
35 Governors Ln None Available 4 3.1 $1,098,000 $1,009,000 116
12 Humbert St None Available 3 1.1 $749,000 $722,500 41
34 Edgehill St None Available 5 3.2 $1,295,000 $1,225,000 41
21 Bank St None Available 4 1.0 $548,500 $460,000 46

2015 September Princeton Closed Real Estate Transactions

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Here is the list of homes that closed in Princeton last month.

September 2015 Princeton Closed Real Estate Transactions*
Address Subdivision Bds Bths OP SP DOM
232 Russell Rd Edgerstoune 5 5.1 $ 1,999,000 $ 2,013,000 14
44 Birch Ave Abbott Commons 2 1 $ 389,000 $ 320,000 279
113 Magnolia Ln Littlebrook 5 5.1 $ 1,599,000 $ 1,600,000 102
81 Pretty Brook Rd None Available 4 3.1 $ 1,195,000 $ 999,999 169
79 David Brearly Ct Griggs Farm 2 1.1 $ 268,000 $ 250,000 115
17 Rosedale Rd None Available 4 4.1 $ 1,399,000 $ 1,379,000 40
10 Newlin Rd Institute Area 4 3.1 $ 2,200,000 $ 1,668,551 121
7 Leonard Ct None Available 4 5.3 $ 3,250,000 $ 2,850,000 158
273 Ewing St None Available 4 4 $ 1,295,000 $ 1,295,000 1
32 Paul Robeson Pl Palmer Square 3 3.1 $ 1,675,000 $ 1,625,000 121
12 Governors Ln Governors Lane 4 3.1 $ 789,000 $ 776,000 85
4571 Province Line Rd None Available 4 5.1 $ 2,100,000 $ 1,895,000 122
59 David Brearly Ct Griggs Farm 2 1.1 $ 275,000 $ 270,500 20
38 Dodds Ln Littlebrook 4 3 $ 869,000 $ 795,000 73
95 Linwood Cir None Available 5 2.1 $ 925,000 $ 865,000 59
9 Harriet Dr None Available 5 3.1 $ 1,395,000 $ 1,350,000 31
5 Cleveland Ln None Available 3 3 $ 924,900 $ 950,000 4
276 Western Way Riverside 3 1.1 $ 625,000 $ 640,000 7
90 Cleveland Ln None Available 9 6.1 $ 3,350,000 $ 3,250,000 9
269 Wendover Dr None Available 4 3.1 $ 1,225,000 $ 1,225,000 13
338 Hamilton Ave Littlebrook 3 1.2 $ 625,000 $ 599,000 34
43 Gordon Way Queenston Common 3 2.1 $ 629,000 $ 616,000 22
10 Governors Ln Governors Lane 4 3.1 $ 879,000 $ 820,000 42
64 David Brearly Ct Griggs Farm 3 2.1 $ 319,500 $ 325,000 10
36 Mountain Ave Bayard Court 3 2.1 $ 549,900 $ 545,000 5

2015 August Princeton Closed Real Estate Transactions

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Here is the list of homes that closed in Princeton last month.

August 2015 Princeton Closed Real Estate Transactions*
Address Subdivision Bds Bths OP SP DOM
240 Mount Lucas Rd None Available 4 2 $ 684,000 $ 535,000 329
91 Linden Ln None Available 3 1.1 $ 599,000 $ 490,000 214
321 Brooks Bnd None Available 6 5.1 $ 3,900,000 $ 2,850,000 224
33 Benjamin Rush Ln Washington Oaks 3 2.1 $ 498,888 $ 553,512 14
26 Murray Pl None Available 4 1.1 $ 550,000 $ 505,000 114
29 Cleveland Ln Western 7 4.1 $ 1,850,000 $ 1,500,000 124
95 Random Rd Carnassa Park 5 5.1 $ 1,695,000 $ 1,675,000 24
284 Mercer St None Available 5 3.1 $ 1,150,000 $ 1,045,000 82
161 Hodge Rd Western 6 6.1 $ 3,250,000 $ 2,674,000 140
747 Kingston Rd Riverside 4 1.2 $ 479,900 $ 489,900 47
12 Gordon Way Queenston Common 3 2.1 $ 550,000 $ 550,000 6
55 Wiggins St None Available 1 1 $ 425,000 $ 394,000 61
85 Greenway Ter None Available 5 3.1 $ 1,400,000 $ 1,460,000 7
7 Cleveland Ln Western 5 4.1 $ 1,895,000 $ 1,815,000 9
32 Baker Ct Littlebrook 4 2.1 $ 1,100,000 $ 1,160,000 7
15 Hodge Rd None Available 6 5.2 $ 4,950,000 $ 4,325,000 54
19 Maple St None Available 4 2.2 $ 1,275,000 $ 1,399,000 22
384 Ewing St None Available 4 2.1 $ 780,000 $ 792,000 14
80 Rollingmead St Littlebrook 3 2 $ 718,000 $ 650,000 68
131 Bertrand Dr Littlebrook 4 4.1 $ 1,589,000 $ 1,500,000 40
107 Grover Ave None Available 3 2 $ 649,000 $ 655,000 11
140 Stonecliff Rd Ettl Farm 5 4.1 $ 1,688,000 $ 1,645,000 14
348 Mount Lucas Rd None Available 4 3 $ 1,050,000 $ 999,000 34
225 Arreton Rd None Available 5 5.2 $ 2,100,000 $ 1,925,000 56
46 Florence Ln The Glen 4 4.1 $ 999,000 $ 918,888 6
151 Sycamore Rd Riverside 4 2.1 $ 799,000 $ 755,000 13
101 Red Hill Rd None Available 3 2.1 $ 736,000 $ 605,000 53
47 Maple St None Available 3 2 $ 925,000 $ 850,000 23
194 Clover Ln Littlebrook 5 3 $ 925,000 $ 920,000 14
512 Ewing St None Available 4 2 $ 575,000 $ 580,000 16
188 State Rd None Available 4 2.1 $ 539,000 $ 539,000 14
161 Laurel Rd None Available 4 2.1 $ 849,000 $ 900,000 7
199 Snowden Ln Littlebrook 4 3 $ 599,000 $ 570,000 14
55 Woodside Ln Riverside 4 3 $ 985,900 $ 1,055,000 175

2015 July Princeton Closed Real Estate Transactions

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Here is the list of homes that closed in Princeton last month.

July 2015 Princeton Closed Real Estate Transactions*
Address Subdivision Bds Bths OP SP DOM
155 Hamilton Ave None Available 5 5 $ 1,289,000 $ 1,250,000 166
34 Brearly Rd Russell Estates 5 5.1 $ 1,825,000 $ 1,700,000 178
330 N Harrison St, Unit D None Available 2 2 $ 379,900 $ 327,000 151
19 Constitution Hl W Constitution Hill 2 2.1 $ 799,000 $ 780,000 113
19 Greenhouse Dr None Available 4 3.2 $ 2,475,000 $ 2,237,500 71
220 State Rd American Way 5 3.1 $ 469,000 $ 450,000 58
81 Chambers St Palmer Square 3 3.1 $ 1,995,000 $ 2,176,000 10
259 Mount Lucas Rd None Available 4 3.1 $ 1,229,000 $ 1,220,000 21
17 Red Hill Rd None Available 3 2.1 $ 610,000 $ 610,000 9
51 Clarke Ct Russell Estates 3 3.3 $ 1,395,000 $ 1,420,000 78
57 Cleveland Ln None Available 5 4.1 $ 1,750,000 $ 1,780,000 7
280 Ridgeview Rd None Available 4 4 $ 699,000 $ 699,000 14
31 Wheatsheaf Ln Littlebrook 3 2 $ 495,000 $ 485,000 26
60 Murray Pl None Available 4 3 $ 799,000 $ 760,000 62
1038 Princeton Kingston Rd None Available 5 2.1 $ 799,000 $ 775,000 35
36 Paul Robeson Pl Palmer Square 3 3.1 $ 2,000,000 $ 1,930,000 85
6 Andrews Ln Andrews Foulet 5 4 $ 1,175,000 $ 1,150,000 18
39 Rollingmead St Littlebrook 4 3.1 $ 900,000 $ 853,500 26
247 Valley Rd None Available 4 3.1 $ 795,000 $ 796,000 34
7 Wilkinson Way Washington Oaks 4 2.1 $ 659,000 $ 683,000 9
36 Princeton Ave None Available 5 3.1 $ 1,250,000 $ 1,515,000 17
8 Robert Rd Riverside 4 2.1 $ 875,000 $ 930,500 7
10 Quaker Rd None Available 3 2 $ 570,000 $ 560,000 7
562 Ewing St None Available 3 2 $ 649,000 $ 600,000 36
56 Princeton Ave None Available 3 2.1 $ 1,100,000 $ 1,060,000 18
76 Stetson Way None Available 6 5 $ 1,695,000 $ 1,640,000 14
214 Valley Rd None Available 3 2.1 $ 640,000 $ 660,000 2
11 Newlin Rd Institute Area 3 2.1 $ 1,345,000 $ 1,250,000 57
31 Trewbridge Ct Fieldwood Manors 3 3.1 $ 599,000 $ 583,000 8
52 Warren Ct Washington Oaks 4 3.1 $ 1,098,000 $ 1,080,000 22
44 Scott Ln Littlebrook 4 3.1 $ 799,000 $ 960,000 14
27 Linden Ln None Available 4 2.1 $ 610,000 $ 680,000 7
237 Drakes Corner Rd None Available 6 8.1 $ 2,985,000 $ 2,880,000 18
67 Woodland Dr None Available 5 4 $ 779,000 $ 790,000 9
29 Chestnut St None Available 3 1.1 $ 899,000 $ 985,000 12
15 Haslet Ave Institute Area 4 4.1 $ 1,975,000 $ 1,800,000 17
21 Trewbridge Ct Fieldwood Manors 3 3.1 $ 640,000 $ 630,000 8
65 Woodside Ln Riverside 4 3 $ 835,000 $ 905,000 6
199 Hale Dr None Available 5 3.1 $ 1,100,000 $ 1,060,000 6
15 Turner Ct None Available 4 2.1 $ 750,000 $ 750,000 15
65 Dorann Ave Princeton Farms 4 3 $ 950,000 $ 915,000 7

2015 June Princeton Closed Real Estate Transactions

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Here is the list of homes that closed in Princeton last month.

June 2015 Princeton Closed Real Estate Transactions*
Address Subdivision Bds Bths OP SP DOM
159 Library Pl Western 7 5.2 $ 3,300,000 $ 2,600,000 622
15 Palmer Sq W, Unit G Palmer Square 1 1 $ 550,000 $ 450,000 420
65 Governors Ln Governors Lane 6 3.2 $ 1,350,000 $ 1,090,000 274
42 Governors Ln Governors Lane 4 3.1 $ 749,000 $ 710,000 195
476 N Harrison St None Available 3 1 $ 84,000 $ 445,000 160
369 Riverside Dr Riverside 5 3 $ 2,200,000 $ 2,050,000 44
3 Palmer Sq W, Unit H Palmer Square 1 1 $ 429,000 $ 415,000 94
9 Hilltop Dr None Available 3 2 $ 525,000 $ 505,000 1
49 Lovers Ln None Available 5 3 $ 1,190,000 $ 1,049,900 78
67 Wiggins St None Available 3 1.1 $ 629,000 $ 651,000 9
137 Philip Dr Riverside 4 2.1 $ 975,000 $ 962,500 17
4563 Province Line Rd None Available 4 3.1 $ 900,000 $ 830,000 14
365 Christopher Dr Ettl Farm 4 3.1 $ 1,488,888 $ 1,488,888 15
79 Ettl Cir Ettl Farm 4 3.1 $ 1,395,000 $ 1,396,000 7
18 Marion Rd W Littlebrook 4 3 $ 760,000 $ 717,500 34
521 Brickhouse Rd Washington Oaks 2 2 $ 410,000 $ 410,000 3
173 Hickory Ct None Available 4 2.1 $ 749,000 $ 815,000 10
61 Rosedale Ln None Available 4 4 $ 1,275,000 $ 1,350,000 5
32 N Harrison St None Available 3 2 $ 529,000 $ 530,100 21
15 Woodside Ln Riverside 4 2.1 $ 739,000 $ 801,000 8
327 Jefferson Rd None Available 4 3.1 $ 1,670,000 $ 1,750,000 15
255 State Rd None Available 4 2.1 $ 509,900 $ 500,000 13
536 Mercer Rd None Available 4 2.1 $ 688,000 $ 690,000 5
271 Drakes Corner Rd None Available 6 7.2 $ 3,500,000 $ 3,500,000 2
540 Kingston Rd Littlebrook 4 2.1 $ 749,000 $ 755,000 6
81 Mountain Ave None Available 3 3.1 $ 825,000 $ 800,000 7
539 Princeton Kingston Rd Riverside 5 3.1 $ 1,299,000 $ 1,299,000 35
1 Orchard Cir None Available 5 5 $ 1,100,000 $ 1,400,000 4
1 Cleveland Ln None Available 4 3.2 $ 1,375,000 $ 1,550,000 7
33 Cleveland Ln Western 6 5.1 $ 3,300,000 $ 3,150,000 15
14 Cameron Ct Queenston Common 2 2.1 $ 565,000 $ 590,000 6
43 Linden Ln None Available 4 2.2 $ 969,000 $ 985,000 8
22 Brearly Rd Russell Estates 4 5.2 $ 1,825,000 $ 1,825,000 119
130 Hodge Rd Western 5 4.3 $ 3,495,000 $ 3,200,000 116
315 Nassau St None Available 4 3.1 $ 800,000 $ 789,000 1

John Burke

Broker/Sales Person

Weichert, Realtors
350 Nassau St,
Princeton, NJ 08540
Office: (609) 921-1900

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