Greater princeton area 3rd quarter market update 2013

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.

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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.