The Princeton Real Estate market continues to be incredibly robust in 2017. Here are some some key numbers and indicators for the Princeton real estate buyers and sellers:
- Princeton inventory remains low. 19% fewer homes have been listed ytd 2017 and 16% more homes have closed in 2017 vs 2016. As the inventory continues to remain low it suggests overall that home prices will continue to rise, especially in the lower price ranges.
- The average for all homes that closed in February retained 93.6% of their list price.
- Homes that were listed below $1 million retained 97.5% of their list price
- Homes that were listed over $1 million retained 89% of their list price. The data shows that the largest demand is in the more ‘affordable’ price ranges in Princeton.
- 25% of the closings in February were cash purchases.
- The average Princeton home that closed in February was 2407 square feet.
- The average annual tax bill for closed homes was $16,348.