The Princeton real estate market had another stellar month in August with a huge number (43) homes that settled for the month. (Click here for a complete list of homes that sold for the month) The market continues to favor sellers overall in every price bracket.
Here are some insights into the Princeton Market:
- The average sold price for Princeton homes was $1.042 million.
- Sellers retained 94.5% of their original asking price. This is a bit off the nearly 98-100% average YTD though this is due to two homes (20 Green St & 19 Linden selling off their asking prices).
- Despite the over $1 million average price 34% of the homes that closed in August were cash purchases. Conventional loans was the second most popular way to secure financing for Princeton buyers in August.
- The average tax bill for homes that closes was $18,349.
- The average age for homes that closed was 59 years
- For homes that entered the market with an asking price of under $1 million the sellers retained 97.8% of their asking price and sold their homes in 53 days.
- For sellers who started their homes in the $1-2 million price bracket sellers took 141 days to sell their homes and retained 93.7% of their asking price. This group would have higher stats but for two properties (one commercial and one residential) that sold below their asking price.
- For sellers in the luxury price range $2 million plus they retained 93.7% of their asking price and the houses took on average 141 days to sell.
- Colonials were the most popular house to sell in the Princeton market for the month with 48% of the market being of that variety.
Looking for your next Princeton home? Here are the latest houses to hit the market.
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