“The marketplace was concerned about low inventory levels last year and there were 8% fewer homes listed this January (down 55% from 2007). Every municipality has it's own story, so we're keeping a close eye on the inventory this spring."
Princeton, NJ (PRWEB) February 26, 2014
Callaway Henderson Sotheby’s International Realty, a locally owned luxury real estate firm based in Princeton, New Jersey, announced today that certain sectors of the Princeton real estate market are seeing a significant rise in activity, due in large part to a combination of rising interest rates and lower inventory.
Pete Callaway, Broker of Record states, “The marketplace was concerned about low inventory levels last year and amazingly there were even 8% fewer homes listed this January in Mercer County vs. last January (down 55% from 2007). Every municipality has it's own story (Princeton for example was up 1.9% during the same period), so we're keeping a close eye on the inventory pattern as it develops this spring.”
Christina Phillips, a licensed associate with Callaway Henderson Sotheby's International Realty, has a new listing in Princeton that exemplifies the current market in action. The recently improved five bedroom home (with a notable Princeton lineage) stands on a sought-after cul-de-sac just a short stroll away from the coveted Riverside School. Phillips states, “The house came on the market February 7th, and has been shown non-stop. Our comprehensive marketing program has led to over thirty showings in the first two weeks alone. The sellers did a total master suite renovation, redid all the bathrooms, added a half bath, put in a new walkway, patio, and added landscaping.”
Callaway Henderson Sotheby's International Realty is located at 4 Nassau Street, Princeton NJ 08542, and serves the greater Princeton area with four additional offices throughout central New Jersey, including Cranbury, Lambertville, Montgomery and Pennington. For additional information, please contact 609.921.1050. The Sotheby’s International Realty network currently has more than 14,000 sales associates located in approximately 680 offices in 49 countries and territories worldwide.