To read the report,click the link in our profile or go to callawayhenderson com/luxuryoutlook
To read the report,click the link in our profile or go to callawayhenderson com/luxuryoutlook
AViewFrom TheGreater PrincetonArea
Despite interest rate hikes,demand for luxury homes continues as people spend more time at home than ever before
Here in the Greater Princeton Area,we feel the impact of record low inventory and continued strong demand,resulting in a sustained steady stream of sales and pricing that has yet to temper in most markets
Our marketplace continues to thrive due to its strong sense of place with long-lasting appeal,highly regarded schools,a plethora of recreational and leisure activities,and proximity to cities like New York and Philadelphia? all elements that make for a successful suburb and in keeping with the trend that most U S markets that grew during the pandemic are still strong,if slightly muted,as explored in this report on page 42
2022Market Statistics
The benchmark price for "luxury" property in our market is generally accepted to be $2 million or more
According to Bright MLS,GSMLS,and our own firm knowledge,there were 43 sales over $2 million in Mercer County, Montgomery Township,East and West Amwell,Delaware,Kingwood,and Raritan Townships during 2022, including eight at or above $3 million
Of the eight properties to sell at or above $3 million,six were in Princeton and two were in Delaware Township
To view current real estate listings or learn about listing your home with us, please visit callawayhenderson com
75%
Of the 8 homes to sell at or above $3 million in our marketplace in 2022, Callaway Henderson Sotheby's International Realty represented 6 of the sellers
Luxury Outlook 2023 2
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DELAWARE TOWNSHIP, NEW JERSEY
Stone Creek Farm, a 50-acre lifestyle property centered around an 18th century stone farmhouse, is truly a masterpiece in design and quality and was a significant sale in our marketplace in 2022
