Introducing…96 Elm Ridge Road!

April 3, 2014

 

96 front

Drum roll please…96 Elm Ridge Road is on the market!  Highly respected and talented local builder, Lew Barber, built this transcending home as his personal residence.

96 stairs

Sporting only materials of the highest caliber and enhanced by striking custom details such as exposed brick, stone, wrought iron, and walnut floors, the house is equally sophisticated and rustic. 

96 view

With breathtaking and uninterrupted views from just about every room this extraordinary home takes full advantage of the beautiful 26-acre-farm-assessed property, which is just outside the bounds of Princeton in Hopewell and Lawrence Townships.

96 backCompleted in 2008, the home’s stucco and stone exterior with standing seam metal roof requires virtually no maintenance, while solar panels, 4-zone geothermal heating and cooling, and a whole house generator offer the height of efficiency and comfort. Even the barn is warmed by radiant heat.

Stunning, low-maintenance, eco-friendly, and conveniently located, this home is truly rare find!  Want to see it? Email us! Sig & Syl


Princeton Pi Day

March 5, 2014

Mark your calendars, Princeton Pi Day (or weekend) is almost here! This fun family event celebrates Einstein’s birthday (3/14) which just so happens to be the numeric equivalent of Pi.  This annual tradition was founded by Mimi Omiecinski of the Princeton Tour Company and, like everything Mimi does, is loads of fun. Events begin on Thursday evening March 13th and run through to Saturday evening, March 15th. Our favorite is the Einstein look-a-like contest. People seem to come out of the woodwork for this one and it is always good fun!  There will also be interesting lectures, book signings by academic celebrities and authors, a kid’s violin exhibition, pie eating contest, pie throwing and walking tours of Einstein’s favorite hangouts, to name just a few.  There are so many fun events to choose from that we suggest you go to http://www.pidayprinceton.com/ and check them all out! Advanced registration is recommended as this is a popular event. In short, don’t miss out; there is something for everyone! Cheers, Sig&Syl


It’s Finally March!!!

March 1, 2014

Squirell Karin Sickel

February is finally behind us and we are definitely looking forward to the spring…this will be a winter we will never forget!!! Speaking of winter, over the last month or so, we have often been asked how/if we think the weather has affected the market.  Well, here are some stats that may help to answer that question. According to Trend MLS, in the month of February in Princeton 14 units sold vs. 8 units LY (+75%), the average sale price was $894,181 vs. $860,437 LY (+4%), 36 units were listed vs. 37 LY (-3%), 9 units went pending vs. 29 LY (-69%), and the average days on market (DOM) was 94 vs. 75 (+25%).  We believe the answer is YES; the weather has affected market activity. We have had clients either cancel or reschedule appointments due to unsafe driving conditions and/or school snow days. Once we get through this next storm, which will hopefully be our last, we have a feeling we are in for a very busy March and April.

Year-to-date, compared to 2013, Princeton experienced a healthy 9% increase in the average sale price ($1,094,003 vs. $1,000,174), units sold were +11% (31 vs. 28), units listed +5% (61 vs. 58), units pending were -54% (21 vs. 46), and the average DOM was -16% (87 days vs. 104 days).  Now let’s dive a little deeper into the sea of statistics.  YTD there have been 14 sales over $1M vs. 6 sales over $1M in 2013.  You might be wondering if there was a +133% in the number of units sold over $1M why isn’t the ASP significantly higher? Well, remember last year there was an outlier… the American Boy Choir School sold for $5.9M and closed last January. So which price range over $1M experienced the largest increase? The $1M-$2M range with 11 units selling in 2014 vs. 3 units in 2013.  Pretty compelling data.  Like a child on the eve of their birthday, we are excited to see which new homes come on the market and how March and April are going to shake out once we thaw out from the cold.  Will we experience many of the same trends as last year? Will lack of inventory continue to be the story? Only time will tell. Thank you for your time and please remember, if you are thinking about buying or selling your home, know someone who could use our help, or like us love statistics and want to learn more about Princeton and/or the surrounding areas, feel free to email us! Sig & Syl


2013 Year End Review

January 16, 2014

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We LOVE our job and are especially grateful for and proud of the AMAZING company we work for.  We are surrounded by top-notch professionals, are guided by an inspiring team of executives, and have access to an unparalleled network!  If you have a moment, you should totally watch this fantastic video summarizing Callaway Henderson Sotheby’s International Realty’s performance in 2013.  It’s totally worth your time.  Enjoy!  Sig& Syl


Happy 2014!!!

January 6, 2014

oakTreeWestWindsorNJ ron saari

Happy 2014!!! A new year brings a sense of hope and renewal. Resolutions are formed, promises are made, and good health and organization are at the top of our lists. We all want to be and do better and the New Year allows us to regroup and reset. We are looking forward to a happy, healthy, and productive 2014. But before we look ahead, let’s take a moment to review December, Q4, and YTD Princeton residential real estate data. According to TREND MLS, in the month of December Princeton experienced a -33% in the average sale price (ASP), units listed were also -33%, units pending +25%, units sold were +32% to last year, and the average days on market (DOM) was -113%. As with November, the big story here is SHIFT. While we did see many of the scheduled December closings we anticipated come to fruition, including two interesting sales…Tusculum, which sold for $5.0M, and 79 Chambers Street, one of the Palmer Square townhouses, which sold for $1.775M, as SHIFT is the story, let’s analyze Q4 data before summarizing the year. According to TREND MLS, in Q4 Princeton experienced a -23% in the average sale price (ASP), units listed were flat to last year, units pending +20%, units sold were +17% to last year, and the average days on market (DOM) was -128%. Why the decrease in ASP in Q4? A couple of reasons…remember the outlier of Drakes Corner road at $6.765M in 2012? And not only were there 3 more sales over $1M in 2013 (16 vs. 13), but there were 2 more over $2M sales (4 vs. 2). And guess what? Some of the +$2M sales have SHIFTED into January with 4 scheduled to close this month versus 2 which actually closed in January of 2013.

In 2013, Princeton experienced a healthy 7% increase in the average sale price ($930,518 vs. $867.708), units listed were +5.0% (434 vs. 415), units pending +18% (311 vs. 264), units sold were +17% (306 vs. 262) to last year, and the average days on market (DOM) was -32% (76 days vs. 112 days). Very compelling statistics and we are excited to see what 2014 will bring. Speaking of the New Year, we wanted to thank you for reading our blog and for your continued support and referrals. We hope you have had a great start to your New Year and as always, if you are thinking about buying or selling your home, know someone who could use my help, or like us love statistics and want to learn more about Princeton and/or the surrounding areas, feel free to email us!


Small World Turns Twenty!!

December 15, 2013

small world coffee

It’s hard to believe that it’s already been 20 years since Small World Coffee first opened its doors in Princeton.  Co-owners and founders, Jessica Durrie and Brant Cosaboom have built a wonderful community minded business that has truly become the heartbeat of Princeton.  We love that they have two locations (14 Witherspoon Street and 254 Nassau) so when we are out and about showing homes to clients and in need of some caffeine or lunch, a Small World is not far away.  They always have something interesting going on and are great supporters of local artists and musicians. Every Saturday night at 8:30 they have live music. For example, this week they have Brooklyn jazz guitarist Terrence McManus and next week they are featuring folk singer Caroline Reese. It’s a great way to spend a Saturday night!  December 22nd marks the big 20 year anniversary so be sure to go and enjoy the festivities as they plan to make their customers feel extra special! Check out their website to stay in the know  Enjoy! Sig & Syl


Happy December!!!

December 5, 2013

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Happy December!!! It seems like yesterday when we were curiously waiting to see what the New Year would bring. 2013 has definitely been a busy year and the cadence continued into the month of November. According to TREND MLS, in the month of November Princeton experienced a -35.6% in the average sale price (ASP). Yes, you read that correctly and please do not panic. There is a major outlier. As you may recall, in November of 2012 there was a $6,765,000 sale. To provide some perspective, in the last 10 years, including last year’s sale, there have only been 3 sales over $6M. If one were to exclude the outlier the ASP was actually -3.3%.  Units listed were -23.5%(13 vs. 17), units pending -17.6% (14 vs. 17) , units sold were -12.5% (14 vs. 16)  to last year, and the average days on market (DOM) was -41.3% (111 vs. 189). November’s story is the listings that went under contract and pending.  For example, Tusculum sold at auction on 11/7 and closes 12/6.  Additionally 3 listings over $2.5M went under contract and 2 others went pending over $2M.  Another interesting nugget of information is how many pending sales are scheduled to close this month.  Last year 13 sales closed in December, if all pending sales actually close we may see double that number.  Did October’s government shutdown push sales out a bit? Maybe. Either way, it will be interesting to see how December shakes out.

How does Princeton look YTD? Through November, Princeton experienced a 9.8% increase in the average sale price (remember the outlier), units listed were +5.5%, units pending +15.5%, units sold were +15.3% to last year, and the average days on market (DOM) was -30.9% (76 days).  Still very compelling stats and we are excited to see how we close out the year. Speaking of year, we wanted to take a moment and thank all of our clients for their continued support and referrals.  It is an honor to work with such amazing people and there is nothing more gratifying than to help clients find and/or sell their home. Thank you again and we hope this New Year brings much peace, love, happiness and laughter.  And as always, if you are thinking about buying or selling your home, know someone who could use our help, or like us love statistics and want to learn more about Princeton and/or the surrounding areas, feel free to email us!

 


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