Princeton Real Estate - Brokers Open Houses Observations

As a Princeton NJ real estate agent I get to see a lot of houses in Princeton,  Montgomery Township, Hopewell and surrounding communities. Every week there are new homes for sale going on the market.

Each township has a day when the Brokers Open houses are held.  Brokers Open houses are opportunities for real estate agents to see the newly listed properties. In Princeton and Montgomery Township, Broker Open houses are usually held on Wednesdays. Looking at new listings for Princeton homes for sale and Montgomery Township homes for sale allows me to be current on the Princeton area real estate inventory. It also gives me an updtate on what is going on in the market.

My observation from the last several weeks is that the Princeton real estate sellers are beginning to be more realistic about the condition of the market. The homes for sale in Princeton on todays Brokers Open Houses seemed to be priced more in tune with the market then what I have seen before.

I also see the continual demand for the Lakefront properties. Houses are purchased for $2,000,000+, and then demolished, to build new homes. A Princeton House for sale with lake frontage could be on the market for close to $2.5 mln, with the house requiring a lot of work.

Princeton NJ Real Estate - Social Observations

As a Realtor, specializing in the Princeton area real estate, I get "How is The Market?" question asked not just by clients, but in many social settings as well. After the Brokers Open houses I had a chance to visit with some friends and the conversation, as usual, at some point turned to the question of Princeton real estate. I gather from these discussions, some sellers not wanting to 'give the house away'. There is a price bellow which the sellers are not willing to reduce the asking price, if not able to sell their house within 6-9 months. These sellers would rather not sell, then go bellow what they perceive as a fair price.

Unfortunately, it would not be an acceptable decision for those who need to sell, because of the job change or other personal and financial issues.

My answer to the question 'How is the Princeton real estate market?' is two- fold. Houses are continuing to be sold, if priced right, and people are continuing to look for houses to buy, because life does not stop with the slow real estate market.

Next week there will be more Princeton NJ houses for sale, and hopefully the ones priced right would have found their new owners.

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