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