March and the Princeton Residential Real Estate Market: The Spring Market is Here

April 16, 2024

We are officially in the spring market.  Last month was the first time this year there wasn’t a double-digit decrease in the number of Units Listed compared to 2023. In March 2024, Units Listed were effectively flat (34 vs. 33) relative to the same period last year. Interestingly, of the 34 properties listed in March … More March and the Princeton Residential Real Estate Market: The Spring Market is Here

February and the Princeton Residential Real Estate Market: Princeton Needs Inventory

March 7, 2024

Princeton needs inventory.  While I sound like a broken record, it is worth repeating it. Princeton needs inventory. On paper, there were 15 Units Listed in February 2024. Two of them were in Coming Soon status and unable to show until 3/1. Another 5 properties were listed in the last three days of the month. That left only 8 … More February and the Princeton Residential Real Estate Market: Princeton Needs Inventory

January and Princeton Residential Real Estate: The Market Needs Inventory

February 9, 2024

Amazingly, in January 2024, with -50% fewer Units Listed, Units Pended only decreased by -31% compared to January 2023. It is even more incredible to see that with -69% fewer Units Listed, the same number of Units Pended (11) in January 2024 compared to January 2019. It’s no wonder the January 2024 Days On Market (DOM) was only 28 Days, and … More January and Princeton Residential Real Estate: The Market Needs Inventory

2023 Princeton Residential Real Estate Year-in-Review

January 11, 2024

2023 was a remarkably resilient year for residential real estate in Princeton. Macro factors such as increased interest rates, higher inflation, and geopolitical risks affected the general residential real estate market. In contrast, micro factors like low inventory and buyer demand continued to move the market in ways that weren’t necessarily in tandem with national … More 2023 Princeton Residential Real Estate Year-in-Review

October and the Princeton Residential Real Estate Market: October was Surprisingly Resilient

November 16, 2023

October 2023 was surprisingly resilient, given the macro (interest rates) and micro (low inventory) environment. It is remarkable that with a -30% decrease in Units Listed that both Units Sold (-18%) and Units Pended (-17%) did not experience a similar rate of decline compared to the same period last year. Also notable was the material increase in the … More October and the Princeton Residential Real Estate Market: October was Surprisingly Resilient