Market Update Courtesy of Callaway Henderson Sotheby’s International Realty
Your third quarter Greater Princeton area residential real estate market analysis.
Currently Available 60 Crusher Road $1,295,000 Hopewell Township
Third quarter results show a continued rebound from recent years with specific anecdotal tales of dramatic increases for certain market segments. Inventory levels have started to rise as some sellers are trying to take advantage of a healthier market, but pricing has followed unit sales and started to rise in many local municipalities as well. There are still some great values to be had however as buyers and sellers alike are keeping a close eye on interest rates. We are pleased to share the third quarter results for the Greater Princeton Area. Please reach out for specific market information in your neighborhood.
history could be yours Built in 1773 by John Witherspoon, a Signer of the Declaration of Independence and a close friend to Benjamin Franklin and George Washington, the lovingly restored and expanded Tusculum estate offers over 23 acres of beautiful grounds, modern amenities and gracious living — right in the middle of Princeton, NJ. Previously offered for $12M. Selling to the highest bidder at or above $2.5M on November 7th.
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Princeton under $1 Million
Currently Available 5 Greenview Avenue $895,000 Princeton
Q3 2012 Q3 2013 % Change Units Sold
77
Average Sales Price $598,790 91 Days on Market
73
-5.19%
$622,060
+3.88%
59
-35.16%
Q3 2012 Q3 2013 % Change Units Sold
27
32
Average Sales Price $1,297,842 $1,441,218 90 45 Days on Market
+18.51% +11.04% -50%
Princeton $1 Million to $ 2 Million
Currently Available 383/397 Herrontown Road $1,450,000 Princeton
Princeton $2 million to $3 Million
Currently Available 19 Greenhouse Drive $2,695,000 Princeton
Q3 2012 Q3 2013 % Change Units Sold
4
2
Average Sales Price $2,470,000 $2,325,000 96 2 Days on Market
-50% -5.87% -97.91%
Princeton $3 million and over
Currently Available 159 Library Place $3,300,000 Princeton
Q3 2012 Q3 2013 % Change Units Sold
n/a
1
n/a
Average Sales Price Days on Market
n/a
$3,425,000
n/a
n/a
92
n/a
Montgomery township
Currently Available 38 Pin Oak Road $499,000 Montgomery
Q3 2012 Q3 2013 % Change Units Sold
90
Average Sales Price $600,505 70 Days on Market
125
+38.88%
$606,560
+1.00%
66
-5.71%
Q3 2012 Q3 2013 % Change Units Sold
16
Average Sales Price $465,740 93 Days on Market
15
-6.25%
$453,570
-2.61%
114
+22.58%
pennington borough
Currently Available 317 Hale Street $500,000 Pennington
hopewell borough
Currently Available 71 Hart Avenue $475,000 Hopewell Borough
Q3 2012 Q3 2013 % Change Units Sold
6
Average Sales Price $421,066 137 Days on Market
7
+16.66%
$472,000
+12.09%
44
-67.88%
Q3 2012 Q3 2013 % Change Units Sold
84
Average Sales Price $469,402 95 Days on Market
90
+7.14%
$491,894
+4.79%
79
-16.84%
hopewell township
Currently Available 15 Benjamin Trail $895,000 Hopewell Township
west windsor township
Currently Available 15 Berrien Avenue $229,900 West Windsor Township
Q3 2012 Q3 2013 % Change Units Sold
119
Average Sales Price $543,481 58 Days on Market
132
+10.92%
$567,900
+4.49%
40
-31.03%
cranbury township
Currently Available 41 South Main Street $599,900 Cranbury
Q3 2012 Q3 2013 % Change Units Sold
10
Average Sales Price $640,690 41 Days on Market
13
+30.00%
$755,995
+17.99%
53
+29.26%
west windsor, plainsboro and cranbury Combined
Currently Available 93 North Main Street $939,000 Cranbury Township
Q3 2012 Q3 2013 % Change Units Sold
198
Average Sales Price $521,765 60 Days on Market
214
+8.08%
$550,841
+5.57%
43
-28.33%
Q3 2012 Q3 2013 % Change Units Sold
74
Average Sales Price $317,633 115 Days on Market
102
+37.83%
$330,641
+4.09%
64
-44.34%
Lawrence township
Currently Available 24 Manning Lane $349,900 Lawrence Township
robbinsville township
Pending 19 Woods Edge $559,900 Robbinsville
Q3 2012 Q3 2013 % Change Units Sold
66
Average Sales Price $361,000 107 Days on Market
77
+16.66%
$365,259
+1.17%
64
-40.18%
Each Office Is Independently Owned And Operated. Landscaped House Ploughman, Van Gogh. Used with permission. Subject to errors, omissions, prior sale or withdrawal without notice. All statistics from TREND MLS 10.14.13. Information deemed reliable but not guaranteed.