Real Estate Update 2022

As we wrap up the winter season and prepare for the spring market, here's how the Princeton real estate market fared during the first quarter of 2022. The first 3 months continued with high demand as buyers locked into their mortgage pre-approval's before interest rates rise further throughout the year.  The biggest challenge continues to be limited housing supply as property sales year-to-date are down 16% compared to the previous year, but the average price continuing to rise by 37%.