As we move closer to the spring market, February offered another reminder of how constrained inventory continues to shape the Princeton housing market. While fewer new listings were introduced compared with last year, pricing remained strong and houses sold more quickly.
Even in what is typically a quieter time of year, pricing remained solid and properties continued to find buyers. In February, there were 13 new listings, 8 properties went under contract, and 7 houses closed with a median sale price of $1,628,000 and an average sale price of $1,680,786. Sale prices ranged from $520,000 to $3,285,000, and closed properties averaged 51 days on market in February.
Before I dive into the rest of the data, a quick reminder that in the spirit of continuous improvement, I have slightly refined how I present monthly data. Rather than showing every year side by side, I am sharing 2019 as a pre-pandemic baseline and pairing it with the most recent three years of data.
Compared with February of last year, the most notable shift was the significant drop in new listings, which were down 52% year-over-year. With fewer houses coming to market, overall activity was naturally lower. Under-contract activity was down 27%, but closed sales were actually up slightly, and houses sold considerably faster, with average days on market dropping from 73 days to 51 days. Pricing also remained resilient with a 6% increase in the median sale price compared to February 2025, reflecting continued strength in the Princeton market.
Looking at February activity across multiple years, a clearer pattern emerges. Inventory in 2026 remains well below historical levels, yet houses still sell at a steady pace. The decline in days on market to 51 days suggests that well-priced houses continue to attract buyer attention.
One of the most useful indicators of market balance is the pending-to-new listing ratio, which measures how quickly new inventory is being absorbed by buyers.
In February, Princeton recorded a 62% ratio, placing the market in seller-market territory. A balanced market typically falls between 40% and 60%, so February’s figure indicates that buyer demand is still keeping pace with, and in some cases exceeding, the supply of new houses coming to market. For sellers, this dynamic can create favorable conditions when a property is well priced and presented.
While the number of transactions fluctuates from year to year, pricing in Princeton has continued to trend upward over the longer term, as reflected in the 6% increase in the median sale price from February 2025 to February 2026. The 4% decrease in the average sale price was largely driven by a change in the sales mix. The highest sale in February 2025 reached $3,850,000 compared with $3,285,000 in February 2026.
Sales in February 2026 occurred across a range of price points, with the majority of transactions occurring between $1M and $2M, followed by activity in the under $1M range. This distribution continues to reflect Princeton’s broad buyer pool.
Monthly bottom line: Despite a sharp drop in new listings, buyer demand remained steady in February. Houses sold more quickly and pricing held firm, reinforcing the strength of the Princeton housing market as it moves toward the spring season.
Through the first two months of the year, Princeton has seen 29 new listings (-19% compared to 2025), 19 properties go under contract (in line with 2025), and 21 closings (+5% relative to 2025). Year-to-date, houses have sold in an average of 52 days, the lowest level in recent years.
The year-to-date pending-to-new listing ratio currently stands at 66%, again placing the market in seller-leaning territory. This suggests that while new listings remain limited, buyers are continuing to engage with the houses that do come to market.
Through February, the average sale price (-17%) and median sale price (-24%) both declined compared with the same period last year. These decreases largely reflect a shift in the sales mix rather than a broad change in underlying pricing. In 2025, more sales occurred in the $2M–$3M range, and the highest sale in the $3M+ category was $565,000 higher than the top sale recorded so far in 2026. At the lower end of the market, the lowest sale price in 2025 was also $160,000 higher than the lowest sale this year. While these figures can fluctuate from month to month depending on the mix of properties sold, pricing in Princeton remains elevated compared with pre-pandemic levels, reflecting the strength of the local market and Princeton’s enduring appeal to buyers seeking both lifestyle and long-term value.
The largest share of sales so far this year has occurred between $1M and $2M, followed by the Under $1M range, though activity has taken place across nearly every price category. This diversity of price points is one of the characteristics that makes Princeton such an active and dynamic market.
Year-to-date bottom line: Through the first two months of 2026, new listings remain limited while buyer demand has held steady. Homes are selling faster than in recent years, and although pricing has fluctuated due to the mix of properties sold, overall values remain elevated compared with pre-pandemic levels.
As we move into March and April, the market will soon enter its most active time of year. Given the sustained imbalance between supply and demand, well-prepared and thoughtfully priced properties are likely to attract strong buyer interest. For homeowners considering a move in 2026, the coming spring and summer markets may present meaningful opportunities as buyer demand outpaces available inventory.
As always, real estate is local and nuanced. These broader trends provide useful context, but every neighborhood and property tells its own story. If you would like to discuss how this data relates to your specific plans or a particular market segment, I am always happy to be a resource. Feel free to email or call me!
Sylmarie "Syl" Trowbridge 