Princeton Real Estate
Have you ever given thought to getting your Real Estate license? We have found that many people think about it for years before making the plunge. Weichert, Princeton is offering scholarships to its upcoming two week Real Estate licensing course beginning on March 12th. Have your license in only two weeks of school. Full scholarships are available. Call 609-921-1900 or Click here to arrange a private interview with Josh Wilton, Manager of the Weichert Princeton office.
We are pleased to welcome Hala Khurram to the Weichert, Princeton office. Hala is a four year real estate verteran and has developed a reputation for tireless work ethic and high service levels! Please reach out to her at the office to welcome her!
Do you follow the Princeton Real Estate Market? Are you thinking of buying or selling in Princeton? Here is a breakdown of the homes that closed in Princeton in September 2017.
The number of closed homes in Princeton for September was only 17 which is less 3 less then last September.
The average sales price for homes closes in Princeton was $1.494,448 for the month.
The average length of time it took for Princeton homes to sell was 105 days.
Overall Princeton Sellers retained 94.5% of their asking price.
When you break the Princeton market down by Price you get a more interesting story…
Princeton homes that were listed Listed under $1 million:
Princeton homes that were listed listed under $1-$2 million:
Princeton homes that were listed $2-$3 million (one home):
Princeton homes the were listed above $3 million (one home):
It is easy to see that the most vibrant sector of the Princeton market remains the most affordable one, under $1 million. There is continued pressure on home buyers due to the lack of overall inventory and the number of buyers looking to move to the Princeton area.
Want to get out and look at the latest homes to hit the Princeton market? Here they are:
The Real Estate market across NJ continues be be hot with the overall pace of the market favoring sellers. The big story across the country and NJ is the lack of available inventory and West Windsor is no different. West Windsor in 2017 has had 250 homes come on the market vs 288 last year, a 14% decrease in homes for sale.
Here is the full breakdown for homes sold in West Windsor in May 2017:
36 homes closed for the month, with over $19 million in homes closed in May alone.
The average sales price for West Windsor homes in May was $530,666.
Sellers retained 96.4% of their asking price.
The average days on market was 74 days, meaning it took slightly over 2 months to sell a home.
The average taxes for the homes settled in May was $12,617.
5 of the 36 homes closed were paid for in Cash, with conventional financing (mortgage) being the most popular way to secure a home.
A new, exclusive to #Weichert #Princeton listing is hitting the market today. Visit the #OpenHouse at 222 Hamilton Ave, today 1-4pm today to get your chance to buy this updated and affordable #Princeton home. Offered at $665,000 this house offers a 4 beds, 2 full baths, a corner lot, walk to town & schools. Updated and ready to move in. Don’t miss it.
Interested in obtaining your Real Estate License? Weichert is offering courses in the Princeton area for candidates to take the required hours to obtain your NJ Real Estate License. Call 609-921-1900 or click here to inquire about opportunities at the Weichert, Princeton office.
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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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.
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.
One of the largest homes in Princeton’s Ettl Farm neighborhood, with a beautiful location featuring an in-ground pool and large deck. Many upgrades throughout this 5 bedroom, 5 full and 2 half bath brick front colonial with conservatory, 2 offices and a finished basement. Click here to view more photos.
Click this link to view all the homes currently for sale in Ettl Farm.
