Happy April!!

ImageIt’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!

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