2015 Year EndGreater Princeton Area

Residential Real Estate Market Analysis

MARkEt UPdAtE Courtesy of Callaway Henderson Sotheby’s International Realty

Available: 22 Paul Robeson Place, Princeton $1,825,000

Well, that was quick! 2015 is officially in the books, and left in its wake is a whole lot of interesting data around the impact of last year’s events on the Greater Princeton area real estate market.

While Princeton enjoyed its highest annual average sale price ever, for the first time in 6 years there were fewer properties sold than the year before and we find ourselves back to 2007 in terms of units sold. This is just fine, as unit sales simply cannot increase every year and trading within a more “normal” range is imperative for sustainable, long-term growth. Conversely, Montgomery unit sales were up almost 10%, while the average sale price was down 2%. A big story was Hopewell Township, where units were up 16%. Another continuation of a theme is the demand for in-town living, with increased unit sales in Cranbury, Hopewell Borough, Lambertville, and Pennington. Also of note was the high end, with 7 deals trading over $3 million — the highest number since 2005. While all of this occurred, Callaway Henderson Sotheby’s International Realty enjoyed its best year ever in terms of sales volume. We owe our success to each and every one of our clients, whose trust we are extremely grateful for, and to our dedicated agents — 33 of whom are the top 50 agents in Princeton (with no other company having more than 4), and 4 of whom are the top 5 in Mercer County… Extraordinary agents, compiling extraordinary results.

Mild weather and the potential threat of rising interest rates kept the market busy through December and now into January as well. Please contact your favorite Callaway Henderson Sotheby’s International Realty agent, who can keep you up to speed as things progress through the new year and beyond.

2015 By The NumBers

133%

annual growth achieved by our Lambertville office

CallawayHenderson.com Each Office Is Independently Owned And Operated. 1/1/15- 12/31/15 Trend MLS and Trendgraphix data for Princeton and Mercer County as of January 2016. *Of companies which have sold more than 15 listings in Mercer County.

We help our clients

buy and sell homes

here, there, and everywhere.

Referrals placed and received

From New York to Florida,

California to the Jersey Shore,

France to the Cayman Islands

The A-LisT

#1

market share in Princeton

More than every other

competitor combined!

2015 Sales in Princeton

6,215

social media followers from all over the world

197

60%

higher than our next closest competitor

in Mercer County.*

Our average sold listing price is

2,505Interactions using the

TouchGallery home search tool in our Princeton office window

Next up: Lambertville

LocaL Ownership • GLobaL Connections • remarkabLe Agents

UnrivaLed resULts

Of the 7 sales in Mercer County over $3 million,

number of sellers we reprented:

7

76

charitable partners and non-profit organizations.

We are proud to support and reinvest in our local community,with financial contributions to

33

of the top 50 agents in Princeton.

No other company has more than 4.

We proudly boast

57,867

Number of times our #LoveWhereYouLive

community videos have been viewed

We sold properties in:

states

counties

municipalities

29

42

Buyers came to us from:

continents

countries

states

36

22

Volume of private, non-published sales:

$30million

Properties we sold above $1.5 million,

ANDProperties we soldbelow $200,000:

50

Units Sold

Average Sales Price

days on Market

2015 2014 % Change

Princeton $1 Million & UnDer

200 -4.31%

$659,298

209

$632,136 +4.30%

68 71 -4.23%

Available: 771 Kingston Road, Princeton $850,000

Princeton $1 Million to $ 2 Million

Units Sold

Average Sales Price

days on Market

2015 2014 % Change90 +4.65%

$1,419,706

86

$1,419,233 +0.03%

76 70 +8.57%

Available: 1041 Princeton Kingston Road, Princeton $1,895,000

Princeton $2 Million to $3 Million

Units Sold

Average Sales Price

days on Market

2015 2014 % Change12 --

$2,520,958

12

$2,331,166 +8.14%

122 171 -28.65%

Available: 90 Montadale Drive, $2,675,000

Princeton $3 Million anD over

Units Sold

Average Sales Price

days on Market

2015 2014 % Change7 +75.00%

$3,592,857

4

$3,304,040 +8.74%

41 309 -86.73%

Available: 5279 Province Line Road, Princeton $7,900,000

MontgoMery townshiP

Units Sold

Average Sales Price

days on Market

2015 2014 % Change258 +9.79%

$611,949

235

$626,201 -2.28%

60 61 -1.64%

Available: 182 North Street, Belle Mead $825,000

Pennington boroUgh

Units Sold

Average Sales Price

days on Market

2015 2014 % Change49 +11.36%

$437,425

44

$521,418 -16.11%

91 102 -10.78%

Available: 43 Eglantine Avenue, Pennington $649,000

hoPewell boroUgh

Units Sold

Average Sales Price

days on Market

2015 2014 % Change25 +25.00%

$393,496

20

$349,302 +12.65%

62 100 -38.00%

Available: 55 Hart Avenue, Hopewell $375,000

hoPewell townshiP

Units Sold

Average Sales Price

days on Market

2015 2014 % Change266 +15.65%

$519,633

230

$505,548 +2.79%

101 96 +5.21%

Available: 206 Hopewell Amwell Road, Hopewell $885,000

west winDsor townshiP

Units Sold

Average Sales Price

days on Market

2015 2014 % Change345 +4.55%

$574,024

330

$588,731 -2.50%

52 51 +1.96%

Available: 134 South Mill Road, Princeton Junction $1,100,000

cranbUry townshiP

Units Sold

Average Sales Price

days on Market

2015 2014 % Change36 +20.00%

$735,805

30

$623,653 +17.98%

76 56 +35.71%

Available: 15 Prospect Street, Cranbury $600,000

west winDsor, Plainsboro anD cranbUry coMbineD

Units Sold

Average Sales Price

days on Market

2015 2014 % Change602 +8.66%

$525,449

554

$533,558 -1.52%

56 51 +9.80%

Available: 1 Pasture Lane, Plainsboro $575,000

lawrence townshiP

Units Sold

Average Sales Price

days on Market

2015 2014 % Change319 -3.92%

$310,104

332

$305,111 +1.64%

89 73 +21.92%

Available: 14 Belleview Terrace, Princeton $1,100,000

robbinsville townshiP

Units Sold

Average Sales Price

days on Market

2015 2014 % Change239 +12.74%

$357,777

212

$376,065 -4.86%

76 70 +8.57%

Available: 2 McCabe Street, Robbinsville $430,000

laMbertville

Units Sold

Average Sales Price

days on Market

2015 2014 % Change54 +25.58%

$353,541

43

$360,234 -1.86%

76 108 -29.63%

Available: 51 Lambert Lane, Lambertville $399,000

EACh OffiCE iS indEPEndEntlY OwnEd And OPERAtEd. suns and houses bY jOEl bARRi, USEd with PERMiSSiOn.

liStinGS SUbjECt tO ERRORS, OMiSSiOnS, PRiOR SAlE OR withdRAwAl withOUt nOtiCE. StAtiStiCS SOURCE: tREnd MlS 1/8/2016. infORMAtiOn dEEMEd REliAblE bUt nOt GUARAntEEd.

2015 year In review

Click here to view our 2015 Year In Review video.