A. BRADLEY NELSON
Chief Marketing Officer Sotheby's International Realty
AVIEWFROM THEGREATER PRINCETONAREA 2021proved to be a perfect storm for the high-end housing market as the starts-and-stops of the pandemic?s reopening fueled even stronger demand for larger homes and inventory struggled to keep pace. Here in the Greater Princeton Area, the luxury housing market saw a record-breaking year, as more buyers came to us from outside of our local area than we've seen in a long time. Our marketplace is thriving due to its strong sense of place with long-lasting appeal, highly regarded schools, plethora of recreational and leisure activities, and proximity to cities like New York and Philadelphia? all elements that make for a successful suburb, as the trends in this report explore.
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Of the 6 homes to sell at or above $3 million in our marketplace in 2021, Callaway Henderson Sotheby's International Realty represented 6 of the sellers (and 4 of the buyers). 2
RECENTMARKETMOVERS The benchmark price for "luxury" property in our market is generally accepted to be $2 million or more. According to Bright MLS, there were 41sales over $2 million in Mercer County, Montgomery Township, East and West Amwell Townships in 2021, including six at or above $3million. Of the six properties to sell at or above $3million, three were in Princeton, two were in Hopewell Township, and one was in East Amwell Township. To view current real estate listings or learn about listing your home with us, please visit callawayhenderson.com.
HOPEWELL TOWNSHIP, NJ
This 60 -acre historic farm ideally located on the edge of charming Hopewell Borough was a significant sale in our local marketplace in 2021.