Princeton Borough Real Estate

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Princeton Borough Real Estate & Homes for Sale in New Jersey

Home to Princeton University and a town with significant historical prominence, the community was once the seat of government for the new United States. The area features many Colonial-era style homes and Revolutionary War sites. The town is situated in the heart of central New Jersey and equidistant from New York City and Philadelphia, is comprised of two municipalities, Princeton Borough and Princeton Township. Although distinct in government, they share the school system, libraries, cultural and recreational facilities, and parks. The heart of the community is the charming Palmer Square – lined with picturesque shops – and historic Nassau Inn, located in the center of Princeton Borough. The Borough is home to unique thriving businesses, fine restaurants, and many of the most distinguished homes. Also located within the Borough are a number of historic sites, the Institute for Advanced Study, the Princeton Theological Seminary and McCarter Theatre, among much else. Housing options include luxurious condominiums created in elegant older homes, charming single-family homes on the “Tree” streets, and substantial homes in the desirable Western Section and Institute Area. Surrounding Princeton Borough is the Township, an area of 16.5 square miles, featuring rolling hills, mature woodland, and interesting glacial rock formations. The Township offers a range of housing including traditional developments, cluster developments, newer townhouse communities, and some of Princeton’s most luxurious multi-million dollar estates, complete with pools, tennis courts, and beautiful gardens.

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Price Range of Princeton Borough Homes for Sale

Princeton Borough real estate and Princeton Township real estate is diverse. Princeton Borough offers a variety of single-family detached homes for sale and condominiums, while the Township features new townhouse developments and large luxury estates. Real estate prices in both areas range from approximately $300,000 for a modest condominium or duplex to $10,000,000 for an estate property or large parcel of land. Since much of the open land is public parkland, availability of building lots is scarce and prices for these lots have soared over the past few years. This is an upscale and economically strong community and is a wonderful place to live, work and has great homes for sale.

Princeton Borough Real Estate Stats and Trends for the week of April 20th, 2020: homes priced around $665,478 compared to $445,700 the previous week, showing a increase of more than +33%.  For Monday, April 20th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.

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