October presented an interesting mix of activity in the Princeton residential real estate market. Closed sales increased compared with last year, and these properties spent considerably less time on the market. However, fewer homes came to market and under-contract activity declined.
Looking at the year-to-date data, transaction volume remains below 2025, while average and median sale prices have experienced relatively little change.
As always, it is important to note that a meaningful number of Princeton transactions occur outside of BrightMLS, particularly within the luxury market. Because these off-market sales are not reflected in the data below, the statistics provide an important snapshot of market activity, but they do not represent every transaction taking place. In addition, BrightMLS made changes earlier this year to the way it reports new listings, so some of the comparisons with prior periods may look a little wonky.
As a reminder, I continue to use 2019 as a pre-pandemic baseline alongside the most recent three years of data, which I believe provides helpful context for understanding how much the Princeton market has evolved.
Now, let’s take a closer look at the data.
October Market Activity
October recorded 21 new listings, 15 homes under contract, and 14 closed sales. Compared with October 2025, new listings declined 30%, under-contract activity fell 17%, and closed sales increased 56%.
Perhaps the most striking change was in marketing time. Homes that closed in October spent an average of 30 days on the market, compared with 71 days last October and 58 days in October 2019.
While the increase in closed sales is notable, closings generally reflect contracts negotiated several weeks earlier. I find the decline in under-contract activity worth watching, especially with 30% fewer new listings entering the market. Buyers may remain interested, but fewer available homes can limit their opportunities to purchase.
October Pricing
October’s median sale price was $1,470,000, down 14% from $1,710,000 last year. The average sale price was $1,576,808, approximately 2% below October 2025.
With only 14 closed sales in October, the mix of properties sold can have a considerable influence on both figures.
In October 2026, approximately 86% of reported sales were between $1 million and $2 million, compared with 56% in October 2025. Meanwhile, only 7% of sales were below $1 million, compared with 33% last year. One sale exceeded $3 million, whereas none did in October 2025.
October’s 14% decline in median sale price should not be interpreted as a corresponding decline in home values. Comparable sales within a particular market segment provide a more meaningful basis for assessing a property’s value.
Year-to-Date Trends
Through October, Princeton recorded 263 new listings, 190 homes under contract, and 185 closed sales. Each measure declined approximately 13% compared with the same period in 2025. Meanwhile, average days on market remained unchanged at 40 days.
What stands out to me is how closely the declines in listings, contracts, and closings track one another. While we cannot attribute lower transaction volume to any single factor, the parallel declines suggest that fewer homes coming to market may be contributing to lower sales activity.
The comparison with 2019 provides additional perspective. During the first ten months of that year, Princeton experienced 426 new listings, compared with 263 in 2026, approximately 38% fewer. Although changes in BrightMLS reporting warrant some caution, the difference underscores how much the supply of homes coming to market has changed since the pandemic.
Year-to-Date Pricing
Through October, Princeton’s average sale price was $1,603,957, approximately 1% below the same period in 2025. The median was $1,370,000, down approximately 2%.
These relatively modest changes stand in contrast to October’s 14% decline in median sale price and reinforce how significantly a single month’s results can be influenced by the mix of homes sold.
For additional context, the average sale price in 2019 was $1,032,729, while the median was $900,000. Today’s average and median sale prices remain considerably higher, although these figures reflect the mix of properties sold rather than changes in the value of individual homes.
Although Princeton’s year-to-date closed sales declined approximately 13%, activity varied considerably across price points.
Through October, approximately 25% of reported sales were below $1 million, 54% were between $1 million and $2 million, 13% were between $2 million and $3 million, and 9% were above $3 million.
The $1 million to $2 million segment recorded a slight increase in transactions, with 99 sales compared with 96 last year. The most significant decline occurred between $2 million and $3 million, where sales fell from 39 to 24, a decrease of approximately 38%. Meanwhile, BrightMLS-reported sales above $3 million remained unchanged at 16.
This variation is particularly relevant for buyers and sellers in the luxury market. While overall sales activity has declined, the differences across price points may reflect changes in both buyer demand and the availability of homes for sale. Understanding these dynamics within a specific market segment is more useful than relying solely on Princeton’s overall sales figures.
What This Means
For Buyers
October’s shorter marketing times are a reminder that desirable, well-priced properties can still attract attention quickly, even as overall transaction volume declines.
However, buyers should distinguish between homes that are attracting strong interest and those that have been on the market longer. The latter may present opportunities to negotiate, particularly when the asking price is not supported by recent comparable sales.
With fewer homes coming to market, preparation matters. Understanding a property’s value before making an offer allows buyers to act confidently when the right opportunity arises.
For Sellers
October’s faster sales are encouraging, but they should not be interpreted as a guarantee that every property will sell quickly or command a premium.
The year-to-date decline in transactions between $2 million and $3 million is particularly worth examining for sellers in that price range. Before setting an asking price, I believe it is important to understand not only recent comparable sales, but also how much competing inventory is available and how buyers have responded to similar properties.
Looking Ahead
As we approach the end of 2026, I will be paying particular attention to new listings and under-contract activity.
Although October’s closings increased, those sales generally reflect contracts negotiated weeks earlier. Under-contract activity provides a more timely indication of buyer activity, while new listings will help us understand whether buyers are seeing more opportunities to purchase.
Princeton Area Overview
Looking beyond Princeton, Hopewell Township recorded the greatest number of closed sales through October, followed by Lawrence Township and West Windsor.
Princeton continued to have the highest average and median sale prices among the communities included in this report, followed by Montgomery in average sale price.
While these comparisons provide a useful overview of the Greater Princeton Area, transaction volume and pricing vary considerably among communities. Differences in housing stock, price points, and the number of properties available for sale are important considerations when interpreting the data.
Final Thought
What I find most revealing about October’s data is that there is no single statistic that adequately describes the Princeton real estate market. A decline in year-to-date sales does not necessarily indicate weaker demand, just as shorter marketing times do not mean every property will sell quickly.
For buyers and sellers, I believe the most important question is not simply what the Princeton market is doing, but what the data tells us about the particular home they are considering buying or selling. The answer can be quite different depending on the property, its price point, and the competition.
As always, if you are thinking about buying, selling, or would simply like to better understand the Princeton area real estate market, please feel free to call (917-386-5880), text, or email me. I am always happy to be a resource!
