Is Princeton, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Princeton was a Seller's Market.
Key Takeaway
Princeton is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Princeton, NJ
How much do homes in Princeton, NJ cost?
Median Sold Price
$779,667
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Princeton have sold for 19.9% more than they did a year ago.
Summary: The median home sold price in Princeton was $779,667 in May 2024, up 19.9% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $210K | -27.6% |
| 2 Bedrooms | $456.5K | $526.2K | +15.3% |
| 3 Bedrooms | $629.5K | $668K | +6.1% |
| 4 Bedrooms | $889K | $1.1M | +29.4% |
| 5+ Bedrooms | $1.8M | $1.9M | +7.6% |
Summary: Princeton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.6%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Princeton | $650K | $779.6K | +19.9% |
| Princeton Township | $680.7K | $780K | +14.6% |
Housing Supply in Princeton, NJ
How many homes are available in Princeton, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 183 | 221 | +20.8% |
Summary: The Princeton real estate market had 221 homes for sale in May 2024, a 20.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 13 | -7.1% |
| 2 Bedrooms | 18 | 27 | +50.0% |
| 3 Bedrooms | 52 | 52 | 0.0% |
| 4 Bedrooms | 54 | 65 | +20.4% |
| 5+ Bedrooms | 45 | 64 | +42.2% |
Summary: The Princeton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.1%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 42.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 34 | +17.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Princeton, you could pay more than the asking price. 67.6% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in Princeton in May 2024, up by 17.2% month-over-month. Of the 34 sold homes, 18% were sold under asking, 15% were sold at asking, and 68% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 25 Days | -51.2% |
Summary: Homes in Princeton had an average of 25 days on market in May 2024, down by 51.2% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Princeton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 34 homes were sold in Princeton; 71% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.