Is Princeton, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Princeton has remained a Buyer's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $335K | $210K | -37.3% |
2 Bedrooms | $483.2K | $488.5K | +1.1% |
3 Bedrooms | $599K | $661K | +10.4% |
4 Bedrooms | $855K | $1.1M | +34.5% |
5+ Bedrooms | $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 | $632K | $772.3K | +22.2% |
Princeton Township | $677K | $772.3K | +14.1% |
Housing Supply in Princeton, NJ
How many homes are available in Princeton, NJ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
179 | 193 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 18 | +5.9% |
2 Bedrooms | 32 | 30 | -6.3% |
3 Bedrooms | 46 | 52 | +13.0% |
4 Bedrooms | 34 | 40 | +17.6% |
5+ Bedrooms | 50 | 53 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
21 | 19 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
75 Days | 58 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
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.