LAWRENCEVILLE
MARKET REPORT
December 2020
Lawrenceville NJ home market trends show an increase of a total of $63 (48%) in the average price per square foot over the past 6 months. The average sales price over that same period rose from $231,667 to $283,844, while the median rent for this area is $1,921.
The average time on market for properties in Lawrenceville New Jersey is 36 days and buyers can expect to pay 99% of the seller’s asking price. (All of this is represented in detail with the help of graphs below.)
Here is the December 2020 Lawrenceville NJ real estate market report. The WolfPack Homes Team is committed to keeping our clients up to date with all market statistics. Here is the latest update for homes for sale in Lawrenceville New Jersey.
Please note that all these graphs are informative, you can scroll over each one of them and read carefully.
• Sales
Average sales price in December 2020 was $283,844, it was down from $300,736 in November and up from $231,667 in January of 2020. For buyers, the phase was clearly an opportunity; each year prices fluctuate and buyers must keep an eye on the market trends to know which time can be most beneficial for purchase.
• Market Time
Average days on market for homes in Lawrenceville NJ in December 2020 was 37, no change in market time from November 2020.
• Market Hotness
• Number of Homes Sold
Homes for sale in Lawrenceville NJ spiked in March then went down in April before steadily trending up from April to July where the number of homes for sale in Lawrenceville held until September before dropping in October, with November 2020 being the month with the most homes sold in Lawrenceville NJ. This graph only demonstrates the number of homes sold in Lawrenceville NJ.
The statistics show the ups and downs. It is important for sellers and buyers to watch these trends in the real estate market. With the new year coming, we will keep you informed of the market stats.
• Median Sale Price
As you can see in the above graph, the median sales price in December was $283,844 down from $300,736 in November, and up from $231,667 in January of 2020. September 2020 closed the year with the highest median sale price. Sales are forecasted to increase again as the spring season begins.
• Average Price Per Square Foot
As it is visible from the above graph, in the month of April 2020, the average price per square foot was the highest, reaching just over $200 per sqft. It fell in May to just under $175 per sqft and rose slightly through the end of the year. The 6 month average price per sqft was $180.
• Conclusion
Keep checking these market stats; we will provide them each month. If you would like to discuss the Lawrenceville housing market and how these trends affect selling your home, please call Nicole Wolf Realtor at The WolfPack Homes Team of Berkshire Hathaway Fox & Roach to discuss an optimum sales strategy at 609-610-5789. Looking for the top Realtor in Lawrenceville? We have the #1 market share in the local Lawrencville NJ area! Whether you are looking to buy or sell a home in Lawrenceville, Princeton, Montgomery Township, Hopewell, Princeton Junction etc. you can count on us to represent you the best.
