Available: 563 Cherry Valley Road, Princeton, NJ 08540 (Montgomery Township) $2,150,000
With autumn in full swing across the Greater Princeton Area, it’s time for our quarterly check-in on the local real estate market.
Through the first nine months of 2025, our market continues to stand apart from national trends. Inventory remains tight, though it’s gradually starting to level out. Well-priced, move-in ready homes are still drawing strong demand and multiple offers, while buyers are more cautious with properties that need work or are priced too high.
Despite broader economic uncertainty, the local market remains steady. Callaway Henderson Sotheby’s International Realty is proud to remain the #1 brokerage in Mercer County. While the overall market is up 4.5% year-over-year in total dollar volume sold through Q3, we’re up over 25% as a firm*—a testament to our local expertise and trusted relationships.
Princeton continues to see low inventory and fast-moving sales, while new construction projects in Hopewell Township and West Windsor are shaping both supply and pricing there. A recent increase in mid-priced listings is beginning to influence market data in some smaller municipalities. The bottom line: Real estate here remains hyperlocal and understanding each town’s nuances is essential.
Interest rates seem to have settled in the low 6% range. While higher than in recent years, buyer confidence is holding steady and activity remains consistent.
The high end of our local market is setting new records: 19 homes priced at $3,000,000+ have gone under contract so far this year—already surpassing 2024’s total of 14. (Worth noting, Callaway Henderson SIR represented 15 of those 19 sellers and no other firm represented more than one.) The recently imposed mansion tax changes for sales over $1,000,000, including a shift in the burden from buyers to sellers and increases for sales over $2,000,000, seem to have had an impact by limiting higher end inventory for now.
As always, thank you for your continued trust. Whether you’re thinking about your next move or simply have questions, your Callaway Henderson Sotheby’s International Realty agent is here to offer expert guidance and support every step of the way.
*Source: TrendGraphix: 1/1/2025 - 9/30/2025, as of 10/20/2025
