June 3, 2013
The first half of the year has literally flown by! We can remember anxiously waiting for what the spring market would bring and here we are about to start the lazy days of summer! But before we unwind and enjoy some of what summer has to offer, we have to say the market is still moving and shaking in Princeton. According to TREND MLS in the month of May there was a healthy 17% increase in the average sale price, units listed were +2%, units pending -10%, units sold -28% and the average days on market was +8%. Year-to-date through May the average sale price was +21% (remember the outliers), units listed were +5%, units pending +14%, units sold +21% and the average days on market was -18%.
So, what have we learned thus far? Bottom line, in this market a well-priced home will sell and maybe even garner enough interest to attract more than one potential buyer. We also witnessed the effects of supply and demand as tighter inventory was the story until April when 75 homes were introduced to the market. So what will the month of June bring? Will homeowners who decided to wait and see sell their homes before the end of the summer? Will buyers who have lost homes due to bidding wars continue to look? We can’t wait to see what exciting trends this spring market will continue to experience and to see how we will close out the 2nd quarter of 2013. Speaking of market, if you are thinking about buying or selling your home, or like us love statistics and want to learn more about Princeton and/or the surrounding areas, feel free to email us! Sig & Syl
May 1, 2013
We can’t believe it is May 1st and soon we will be celebrating Memorial Day! That is crazy! As you know it has been a busy spring market thus far, probably why time seems to be flying. Curious how the Princeton residential real estate market faired in April? According to TREND MLS, there was a healthy 6% increase in the average sale price and there was another +$2M sales last month. Units listed were +29%, average units sold +86% and the average days on market was down 36%. Which means we can now tell a new story! April experienced the first increase in units listed this year! 75 homes were introduced last month and when a well-priced home comes on the market, it is sells fast! So what will the month of May bring? Well, there are some great questions to ponder. Did homeowners decide to wait and see and are now eager to list their homes? Will buyers who have lost homes due to bidding wars be ready to pounce? We can’t wait to see what exciting trends this spring market will continue to experience. Speaking of market, if you are thinking about buying or selling your home, or like us love statistics and want to learn more about Princeton and/or the surrounding areas, feel free to email us! Sig & Syl
April 1, 2013
It’s been a busy three months and we can’t believe the 1st quarter is behind us! So how did the Princeton residential real estate market fair Q1? According to TREND MLS, there was a 35% increase in the average sale price (ASP). That number is a bit deceiving as there was an outlier, a $5.9M sale. Without said transaction, the ASP was +19%. Interesting to note is there were 2 +$2M sales this year when the highest sale of Q1 last year was $1.495M! Units listed were -14%, average units sold (AUS) +31% and the average days on market (DOM) were down 23%. March followed the Q1 trend with ASP +22%, AUS +29%, DOM -32%. We know we sound like a broken record, but leaner inventory continues to be the story. And when a good house comes on the market, it is snatched up fast! This month, like last month, has been filled with bidding wars and quick sales. So what will April bring? Last April experienced the second highest number of new listings and I have a feeling the current market trend will continue. Speaking of market, if you are thinking about buying or selling your home, or like us love statistics and want to learn more about Princeton and/or the surrounding areas, feel free to email us!
September 7, 2012
It is always a little sad to see summer go, but nice in a way to get back to a more predictable schedule. With the changing of the leaves, crisp cool air and football season all just around the corner. We thought we’d take a moment to wrap up the summer real estate season for Princeton homes selling in the million plus category. The high end market has certainly taken a beating over the past few years, but fortunately we are starting to see a small light at the end of the tunnel. This summer in Princeton Township and Princeton Borough 33 homes sold over the million dollar mark. Out of the 33, only 3 were in the borough and 6 out of the 33 sold for over 2 million. Compare that with summer 2011 in which 29 homes sold for over a million, 8 of those were in the borough and only 3 out of the 29 sold over the 2 million dollar mark. As always the devil is in the details and we would be happy to delve into more depth with anyone who is interested in getting into the Princeton market! Email us at our fancy new address: email@example.com and we will answer any questions you might have or set up a time to show you around the area! Stay in the Princeton loop and follow MovingtoPrinceton on Twitter, Facebook and Pinterest. As always you may also email us at: Skeough@callawayhenderson.com, Syltrowbridge@callawayhenderson.com.
Sig & Syl
October 28, 2011
If you are thinking of selling your home, this is a must read!
We have seen it time and time again.
” My home is a very special home”… “There’s nothing else like it”… “Someone would be lucky and I mean LUCKY to buy this house”.
We have to admit, it is hard not to feel this way; after all it is your home. Selling a home is emotional on many levels, but as we are currently in a buyer’s market the most profitable strategy is to be as unemotional as humanly possible. After living through the last few years in the real estate business we have learned that one of the most important things a seller can do to achieve maximum dollars is to PRICE IT RIGHT from the start! Under current market conditions, statistics show that the number of days a properly priced home spends on the market is significantly less and the sale price is significantly higher, than a similar home that was initially priced too high. To determine a competitive price for your home we use a 5 metric average that takes into consideration all the market trends and statistics.
If you are interested in selling your home or would just like to know your homes current market value, we would be happy to share with you our expertise! Email us at: Sigrid.Keough@HendersonSIR.com , Sylmarie.Trowbridge@HendersonSIR.com .
Cheers! Sig & Syl