Is Princeton, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Princeton was a Seller's Market.
Housing Prices in Princeton, NJ
How much do homes in Princeton, NJ cost?
Median Sold Price
$777,850
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Princeton was $777,850 in March 2024, up 26.5% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $335K | $210K | -37.3% |
2 Bedrooms | $475K | $500K | +5.3% |
3 Bedrooms | $594.9K | $675K | +13.5% |
4 Bedrooms | $881K | $1.1M | +30.5% |
5+ Bedrooms | $1.8M | $1.9M | +6.8% |
Summary: Princeton housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.3%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 30.5%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Cities
Princeton | $615K | $777.8K | +26.5% |
Princeton Township | $660K | $777.8K | +17.9% |
Housing Supply in Princeton, NJ
How many homes are available in Princeton, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
193 | 215 | +11.4% |
Summary: The Princeton real estate market had 215 homes for sale in March 2024, a 11.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 20 | +17.6% |
2 Bedrooms | 30 | 31 | +3.3% |
3 Bedrooms | 51 | 45 | -11.8% |
4 Bedrooms | 42 | 58 | +38.1% |
5+ Bedrooms | 53 | 61 | +15.1% |
Summary: The Princeton housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 3.3%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes increased by 38.1%, and 5+ bedroom homes increased by 15.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
22 | 27 | +22.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Princeton in March 2024, up by 22.7% month-over-month. Of the 27 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
56 Days | 52 Days | -6.9% |
Summary: Homes in Princeton had an average of 52 days on market in Mar 2024, down by 6.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in Princeton; 52% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.