The city of Princeton, New Jersey is located in Mercer County, and is most popularly known for being the home to the noted University of Princeton. The city of Princeton has garnered the notion of being a "college town," though it is also an important location for other institutions as well, such as Bristol-Myers Squibb and Dow Jones & Company. Princeton homes for sale are highly wanted commodity in the state of New Jersey for many reasons, making it a great market in terms of the real estate industry.
The city of Princeton is considered to be one of the best places work and live in the United States, having achieved the 15th ranking in polls in recent years. Furthermore, Princeton is located almost exactly in the middle of both New York City and Philadelphia, making it a very popular residence for commuters to both cities. Such factors have an impact of Princeton homes for sale and the overall real estate market for the city.
Due to its prestigious reputation, both for being a great place to reside in as well as having one the best universities in the country in Princeton University, Princeton Homes for sale will carry some of the higher property values among other NJ homes for sale in other areas. The average listing price is just over one million dollars, which has only in recent times dropped.
However, the median sales prices are on the rise, and averaging to be about $534,000. Furthermore, Princeton homes for sale in the 08540 zip code, which is also the University's zip code, have proven to have higher sales values due to having the prestigious Princeton zip code and address.