PRINCETON JUNCTION
MARKET REPORT
December 2020
Princeton Junction NJ home market trends show an increase of a total of $50 (21%) in the average price per square foot over the past 6 months. The average sales price over that same period rose from $402,667 to $511,667, while the median rent for this area is $1,135.
The average time on market for properties in Princeton Junction New Jersey is 61 days and buyers can expect to pay 100% of the seller’s asking price. (All of this is represented in detail with the help of graphs below.)
Here is the December 2020 Princeton Junction NJ market report. WolfPack Homes believes in transparency and providing our clients/customers the true statistics.
Please note that all these graphs are informative, you can scroll over each one of them and read carefully.
• Sales
Average sales price for homes sold in Princeton Junction NJ in December was $511,667. December was down from $619,000 in November, and up from $402,667 in January of 2020. 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 Princeton Junction NJ in December 2020 was 58, down from 103 in November 2020.
• Market Hotness
• Number of Homes Sold
Homes for sale in Princeton Junction NJ continued to fluctuate in the first and second quarters with the highest number of homes sold in August, the number of homes sold began to drop through the third quarter of the year until November ending 2020 with a slight spike in December. This graph only demonstrates the number of homes sold in Princeton Junction NJ.
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, median sales price for homes sold in Princeton Junction NJ in December was $511,667. December was down from $619,000 in November, and up from $402,667 in January of 2020. April 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 September 2020, the average price per square foot was the highest, nearly reaching $300 per sqft. In November 2020, it dropped down to almost $200 per sqft and in December 2020 it rose rapidly back to above $280 per sqft.
• Conclusion
Keep checking these market stats; we will provide them each month. If you would like to discuss the Princeton Junction 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 Princeton Junction? We have the #1 market share in the local Princeton Junction 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.
