PRINCETON
MARKET REPORT
January2021
Princeton NJ home market trends show an decrease of a total of $11 (3%) in the average price per square foot over the past 6 months. The average sales price over that same period rose from $938,333 to $963,090,
while the median rent for this area is $1,563.
The average time on market for properties in Princeton New Jersey is 120 days and buyers can expect to pay 98% of the seller’s asking price. (All of this is represented in detail with the help of graphs below.)
Here is the January 2021 Princeton 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 Princeton 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 January was $963,090 up from $962,361 in December, and up from $938,333 in February 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 NJ in January 2021 was 120, up from 64 in December 2020.
• Market Hotness
• Number of Homes Sold
Homes for sale in Princeton NJ continued to trend up in the first and second quarters with the highest number of homes sold in July, the number of homes sold began to drop through the third quarter of the year until November ending 2020 with a spike in December and finally, declining throughout January 2021. This graph only demonstrates the number of homes sold in Princeton NJ.
See the latest Princeton NJ home listings here (make this a link)
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 January was $963,090 up from $962,361 in December, and up from $938,333 in February of 2020. October 2020 closed last year with the highest median sale price. Though sales from November through January have remained steady, 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 July 2020, the average price per square foot was the highest, almost reaching $420 per sqft. In November 2020, it dropped down to $350 per sqft and in December 2020 it rose slightly above $350 per sqft. January 2021 showed a steady upward trend.
• Conclusion
Keep checking these market stats; we will provide them each month. If you would like to discuss the Princeton 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? We have the #1 market share in the local Princeton NJ area! Whether you are looking to buy or sell a home in Downtown Princeton, or in other neighborhoods such as Littlebrook, Riverside, the Western Section or Ettl Farms, Rosedale Acres, etc. you can count on us to represent you the best.
