Greater Princeton Area Q3 2015 Market Update

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

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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.