Market Update Courtesy of Callaway Henderson Sotheby’s International Realty
3rd Quarter 2015 Greater Princeton Area Residential Real Estate Market Analysis
Available: 40 Green Meadow Road, Skillman (Montgomery Township), $1,250,000 The Greater Princeton area real estate market remains strong as we roll into the 4th Quarter of 2015, generally speaking. Looking back on Q3, you’ll find some interesting data that shows more local municipalities faring better than they did over the same period a year ago. But you’ll also see some numbers leveling off, which most believe to be a healthy stabilization to the market given the run up of recent years. Some of this most recent data even shows downward activity — but we’ll need to see how the 4th Quarter results come in to determine if these declines are indicative of a broader trend, or if they simply represent isolated occurrences. Also of note are a number of transactions we have participated in that did not go on the open market, as per the sellers’ requests. This additional information is worth taking into account as well when considering the overall market picture. Not all pertinent local information is available through Zillow or other online portals. Whatever your reason for staying in touch with the local real estate market, we appreciate your interest. As always, we welcome your inquiries and the opportunity to be of service. Please let your favorite agent at Callaway Henderson Sotheby’s International Realty know if there’s anything at all that we can do to help. In the meantime, enjoy the Fall lifestyle that our area has to offer… It’s about as good as it gets!
We are pleased to offer for sale these extraordinary luxury townhomes in the heart of downtown Princeton: 26 Paul Robeson Place 22 Paul Robeson Place 18 Paul Robeson Place
$ 1,575,000 $ 1,825,000 $ 2,795,000
Recently Closed:
32 Paul Robeson Place 36 Paul Robeson Place
$ 1,625,000 SOLD! $ 1,930,000 SOLD!
Princeton
$1 Million & Under
Available: 7 Lytle Street, Princeton, $789,000
Q3 2014 Q3 2015 % Change Units Sold
81
64
Average Sales Price $ 685,577 $ 667,496 57 49 Days on Market
- 20.99 % - 2.64 % - 14.04 %
Q3 2014 Q3 2015 % Change Units Sold
30
36
Average Sales Price $1,451,454 $1,440,459 54 58 Days on Market
+ 20.00 % - 0.76 % + 7.41 %
Princeton $1 Million to $ 2 Million
Available: 63 Stoney Brook Lane, Princeton, $1,995,000
Princeton $2 million to $3 Million
Available: 2 Pheasant Hill Road, Princeton, $2,595,000
Q3 2014 Q3 2015 % Change Units Sold
4
7
Average Sales Price $2,185,625 $2,525,785 170 90 Days on Market
+ 75.00 % + 15.56 % - 47.06 %
Q3 2014 Q3 2015 % Change 3 2 Units Sold Average Sales Price $3,388,720 $3,787,500
+11.77 %
Days on Market
- 92.05 %
390
31
- 33.33 %
Princeton $3 million and over
Available: 64 Battle Road, Princeton, $3,950,000
Montgomery township
Available: 9 Maidstone Court, Skillman, $1,049,000
Q3 2014 Q3 2015 % Change Units Sold
85
Average Sales Price $611,386 56 Days on Market
107
+ 25.88 %
$630,630
+ 3.15 %
49
- 12.50 %
Q3 2014 Q3 2015 % Change Units Sold
17
Average Sales Price $553,235 88 Days on Market
16
- 5.88 %
$482,559
- 12.78 %
93
+ 5.68 %
pennington borough
Available: 326 Sked Street, Pennington, $749,000
hopewell borough
Available: 65-67 West Broad Street, Hopewell, $395,000
Q3 2014 Q3 2015 % Change Units Sold
6
Average Sales Price $313,591 88 Days on Market
12
+ 100.00 %
$369,383
+ 17.79 %
90
+ 2.27 %
Q3 2014 Q3 2015 % Change Units Sold
79
Average Sales Price $511,405 80 Days on Market
83
+ 5.06 %
$538,876
+ 5.37 %
69
- 13.75 %
hopewell township
Available: 175 Woosamonsa Road, Pennington, $2,275,000
west windsor township
Available: 3 Madison Drive, Princeton Junction, $815,000
Q3 2014 Q3 2015 % Change Units Sold
116
Average Sales Price $590,250 42 Days on Market
127
+ 9.48 %
$637,929
+ 8.08 %
36
- 14.29 %
Q3 2014 Q3 2015 % Change 10 Units Sold Average Sales Price $675,295
Days on Market
49
18
+ 80.00 %
$814,166
+ 20.56 %
61
+ 24.49 %
cranbury township
Available: 14 Station Road, Cranbury, $960,000
west windsor, plainsboro and cranbury Combined
Available: 26 Edgemere Avenue, Plainsboro, $610,000
Q3 2014 Q3 2015 % Change Units Sold
197
Average Sales Price $549,700 44 Days on Market
220
+ 11.68 %
$599,732
+ 9.10 %
42
- 4.55 %
Q3 2014 Q3 2015 % Change Units Sold
116
Average Sales Price $320,268 68 Days on Market
106
- 8.62 %
$319,875
- 0.12 %
81
+ 19.12 %
Lawrence township
Available: 6 Edgewood Avenue, Lawrenceville, $850,000
robbinsville township
Available: 1263 Park Street, Robbinsville, $485,000
Q3 2014 Q3 2015 % Change Units Sold
68
Average Sales Price $382,196 51 Days on Market
75
+ 10.29 %
$392,901
+ 2.80 %
72
+ 41.18 %
Q3 2014 Q3 2015 % Change 10 Units Sold Average Sales Price $313,300
Days on Market
126
17
+ 70.00 %
$339,986
+ 8.52 %
62
- 50.79 %
Lambertville
Available: 47 South Union Street, Lambertville, $695,000
As simply put as the lifestyle it affords, there’s nothing quite like Copperwood in Princeton. Rising up on Princeton’s Ridge, Copperwood is the vision of world-renowned architect and long-time Princeton resident, J. Robert Hillier. Convenient to downtown, the Princeton University campus, theaters, and the train, Copperwood sits on a remarkable 20-acre wooded site. Sleek, stylish, sustainable, and sun-drenched, these premier rental units offer modern floor plans, state-of-the-art finishes, and exclusive amenities including: on-site concierge, walking trails, a cafe lounge, fitness center and office facilities, available for use by the community and may be reserved for private functions. One- and two-bedroom units are available, leasing for $2,900 - $4,000 per month (includes one underground parking space). The pursuit of living well in Princeton is finally met at Copperwood... Come be a part of it!
CopperwoodPrinceton.com
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Callaway Henderson Sotheby’s International Realty
@calhensir
Callaway Henderson Sotheby’s International Realty
@callawayhendersonsir
Callaway Henderson Sotheby’s International Realty
@calhensir
Callaway Henderson Sotheby’s International Realty
Each Office Is Independently Owned And Operated. View of Marly-le-roi from coeur-volant by alfred sisley, Used with permission. Listings Subject to errors, omissions, prior sale or withdrawal without notice. statisticS source: TREND MLS 10/07/2015. Information deemed reliable but not guaranteed.