Real Estate 3rd Quarter Update

Princeton Real Estate Market Update - September 2023

As summer transitions into fall, the Princeton real estate market continues to exhibit distinctive trends. Here is a snapshot of the key statistics for September 2023:

**Active Listings:**

Currently, there are 119 active listings in the Princeton area, providing prospective buyers with a variety of options to explore.

**Homes Sold:**

In September 2023, there were 72 homes sold. This figure represents a 28% decrease compared to the same period last year, reflecting a potential slowdown in the market compared to the previous year.

**Days on Market:**

The average number of days a property remains on the market in September 2023 is 85. This statistic suggests that properties are taking slightly longer to sell compared to the same period last year.

**Average Sale Price:**

The average sale price for homes in Princeton in September 2023 is $429,623. This figure represents a 12% decrease compared to September of the previous year. The decrease in average sale price could be attributed to various factors, including changes in demand and market conditions.

*Market Analysis:*

The Princeton real estate market in September 2023 is experiencing a notable decrease in the number of homes sold and a decline in average sale prices compared to the same period last year. This is indicative of a shifting market dynamic, with rising interest rates taking potential buyers out of the market and others taking more time to make decisions.

Despite these changes, Princeton continues to offer a diverse range of housing options, making it an attractive destination for both homebuyers and investors. As the year progresses, the Princeton real estate market may continue to evolve, so staying informed about the latest developments is crucial for those considering buying or selling properties in the area.

Please keep in mind that real estate markets can change rapidly, and the information provided here is a snapshot of the market as of September 2023. For personalized advice and a comprehensive understanding of the Princeton real estate market, contact Lee Mowry at Century 21 Horizon West Realty.