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
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!!! 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!
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!