PRINCETON, PENNINGTON, AND NORTHERN MERCER COUNTY HOUSING MARKET DATA

There was an increase in total units sold in May, with 81 sold this month in Princeton, Pennington, and Northern Mercer County Real Estate versus 75 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 8% versus May 2024.

Versus last year, the total number of homes available this month is higher by 3 units or 2%. The total number of active inventory this May was 173 compared to 170 in May 2024. This month's total of 173 is lower than the previous month's total supply of available inventory of 205, a decrease of 16%.

Last May, the median sale price for Princeton, Pennington, and Northern Mercer County Homes was $751,000. This May, the median sale price was approximately the same at $778,000. The current median sold price is 4% higher than in May 2024.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In May, there was 2.1 months of supply available in Princeton, Pennington, and Northern Mercer County, compared to 2.3 in May 2024. That is a decrease of 6% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 102 homes newly listed for sale in Princeton, Pennington, and Northern Mercer County compared to 144 in May 2024, a decrease of 29%. There were 113 current contracts pending sale this May compared to 98 a year ago. The number of current contracts is 15% higher than last May.

In May, the average sale price in Princeton, Pennington, and Northern Mercer County was 100.4% of the average list price, which is 3.5% lower than at this time last year.

This month, the average number of days on market was 34, higher than the average last year, which was 25, an increase of 36%.





FOCUS ON: PRINCETON, PENNINGTON, AND NORTHERN MERCER COUNTY HOUSING MARKET			MAY 2025

Zip Code(s): 08540, 08542, 08628, 08560, 08534 and 08525
Units Sold 81	Active Inventory 173	Median Sale Price $778,000	Days On Market 34

Up 8% Vs. Year Ago	Up 2% Vs. Year Ago	Up 4% Vs. Year Ago	Up 36% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 81 sold this month in Princeton, Pennington, and Northern Mercer County Real Estate versus 75 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 8% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 3 units or 2%. The total number of active inventory this May was 173 compared to 170 in May 2024. This month's total of 173 is lower than the previous month's total supply of available inventory of 205, a decrease of 16%.
		Median Sale Price Last May, the median sale price for Princeton, Pennington, and Northern Mercer County Homes was $751,000. This May, the median sale price was approximately the same at $778,000. The current median sold price is 4% higher than in May 2024. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 102	Current Contracts 113	Sold Vs. List Price 100.4%	Months of Supply 2.1

Down -29% Vs. Year Ago	Up 15% Vs. Year Ago	Down -3.4% Vs. Year Ago	Down -6% Vs. Year Ago


		Months of Supply In May, there was 2.1 months of supply available in Princeton, Pennington, and Northern Mercer County, compared to 2.3 in May 2024. That is a decrease of 6% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 102 homes newly listed for sale in Princeton, Pennington, and Northern Mercer County compared to 144 in May 2024, a decrease of 29%. There were 113 current contracts pending sale this May compared to 98 a year ago. The number of current contracts is 15% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Princeton, Pennington, and Northern Mercer County was 100.4% of the average list price, which is 3.5% lower than at this time last year. Days on Market This month, the average number of days on market was 34, higher than the average last year, which was 25, an increase of 36%.


	Princeton, Pennington, and Northern Mercer County are defined as properties listed in zip code/s 08540, 08542, 08628, 08560, 08534 and 08525.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.