Is Princeton, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Princeton is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Princeton has remained a Buyer's Market.

Key Takeaway

Princeton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Princeton, NJ

How much do homes in Princeton, NJ cost?

Median Sold Price

$772,333

$356/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$140,333(+22.2%)

Key Takeaway

Homes in Princeton have sold for 22.2% more than they did a year ago.

Summary: The median home sold price in Princeton was $772,333 in February 2024, up 22.2% from last year, and the median price per square foot was $356.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $335K$210K
-37.3%
2 $483.2K$488.5K
+1.1%
3 $599K$661K
+10.4%
4 $855K$1.1M
+34.5%
5+ $1.5M$1.9M
+21.8%

Summary: Princeton housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.3%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes increased by 21.8%.

Median Sold Price Compared To Nearby Cities

Princeton
+22.2%
Princeton Township
+14.1%

Housing Supply in Princeton, NJ

How many homes are available in Princeton, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
179193+7.8%

Summary: The Princeton real estate market had 193 homes for sale in February 2024, a 7.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1718
+5.9%
2 3230
-6.3%
3 4652
+13.0%
4 3440
+17.6%
5+ 5053
+6.0%

Summary: The Princeton housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2119-9.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Princeton, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Princeton in February 2024, down by 9.5% month-over-month. Of the 19 sold homes, 47% were sold under asking, 0% were sold at asking, and 53% were sold over asking.

Days on Market for Princeton, NJ

How long does it take to sell a home in Princeton, NJ?

Average Sale Time

Feb 2023Feb 2024CHANGE
75 Days58 Days-22.4%

Summary: Homes in Princeton had an average of 58 days on market in Feb 2024, down by 22.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Princeton are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 19 homes were sold in Princeton; 47% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Princeton, NJ

Nearby Markets to Princeton, NJ

What housing markets are near Princeton, NJ?