Watching the Princeton Real Estate Market on the First Day of Summer


It’s the first day of summer, and now the calendar confirms what we’ve known for the last several weeks: the spring real estate market, with all of its early exuberance, is over.

In Princeton, the sellers of almost a third of the 31 listed single family homes have slashed their asking prices in the last three months. Most notable is the $100,000 reduction taken on 4 Clearings Way, which has been on the market for only a couple of weeks. Originally listed at $849,900, it surfaced today at $749,000, less than 48 hours after the brokers’ open house reception.

There was more encouraging news for broker Anna Ling Pierce’s home at 33 Pheasant Hollow Run, which was snapped up almost as soon as it hit the market at $649,000 earlier this week. The four-bedroom, four-and-a-half bathroom colonial in the lovely Snow Pond neighborhood could become the highest priced home to sell in Princeton since August, 2011, when 143 Calamint Hill Road North brought $645,000.

There are currently 10 other homes under contract in Princeton, ranging from $219,000 to $439,000, with an average list price of $309,878.

Most prominent of the homes on the market is the elegant 32-acre Bryn Coron estate, whose $2 million price tag puts it in a class by itself.

There are five offerings in the popular Wildwood Acres subdivision off Rte. 31, including 43 Oak Circle, a wonderful cape with its own professional clay tennis court that I am honored to represent.

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