While actual spring is just around the corner, the spring residential real estate market is definitely here! According to TREND MLS, there was a 30% increase in the average sale price (ASP) in February and like last month there was a $2M sale which definitely tweaks the numbers a bit. What is interesting to note is that we have already had 3 $2M+ sales this year and 7 in the last 6 months! Units listed were -18%, average units sold -13% and the average days on market were down 50% – yes, 50%! What does this all mean? Leaner inventory continues to be the story. And when a good house comes on the market, it is snatched up fast! This month has been filled with bidding wars and quick sales. So what will March bring? The last two years the month of March has experienced the highest units listed so we are all eagerly waiting for new inventory and can’t wait to see what will come on the market this month. 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
