Is Princeton Junction, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Princeton Junction has remained a Seller's Market.
Key Takeaway
Princeton Junction is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Princeton Junction, NJ
How much do homes in Princeton Junction, NJ cost?
Median Sold Price
$883,000
$352/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Princeton Junction have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Princeton Junction was $883,000 in March 2024, up 1.7% from last year, and the median price per square foot was $352.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $491.5K | $520K | +5.8% |
| 3 Bedrooms | $628K | $658.5K | +4.9% |
| 4 Bedrooms | $906K | $960K | +6.0% |
| 5+ Bedrooms | $985K | $1.0M | +10.0% |
Summary: Princeton Junction housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
| Plainsboro Township | $530K | $565K | +6.6% |
| Plainsboro | $555K | $580K | +4.5% |
| West Windsor Township | $770K | $800.5K | +4.0% |
| Princeton Junction | $868K | $883K | +1.7% |
| Cranbury | $629K | $610K | -3.0% |
Housing Supply in Princeton Junction, NJ
How many homes are available in Princeton Junction, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 40 | +5.3% |
Summary: The Princeton Junction real estate market had 40 homes for sale in March 2024, a 5.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 2 | -60.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Princeton Junction housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 60%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Princeton Junction, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Princeton Junction in March 2024, down by 12.5% month-over-month. Of the 7 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for Princeton Junction, NJ
How long does it take to sell a home in Princeton Junction, NJ?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 13 Days | -48.6% |
Summary: Homes in Princeton Junction had an average of 13 days on market in Mar 2024, down by 48.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Princeton Junction are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Princeton Junction; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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