🚀 Why Waiting to Buy in Mercer County Could Cost You Thousands

🚫 The Myth of Timing the Market

Let's be honest: trying to time mortgage rates is like trying to time the stock market—nearly impossible. Rates bounce based on inflation, the Fed, and global economics. What doesn't bounce? Mercer County's real estate demand.

In just four days (March 28–April 1, 2025), 43 homes went under contract—from a $199,000 Trenton home to a $3.5M Princeton estate. Buyers who hesitated during the 2022 rate spike watched inventory shrink while prices held firm. And nearly 49% of December 2024 sales went over asking. Bottom line: waiting hasn't worked.

💰 Short-Term Rates vs. Long-Term Wealth

Even with higher rates, homeownership builds serious wealth over time. National home prices have jumped 142% since 2000, and Mercer County is following that trajectory.

For example, a 5-bedroom home in Hamilton at 11 Misty Meadow Ln. sold for $557,850 in 2024—up from $477,800 just two years earlier. That's $80,000 in appreciation. With inventory down 15% from November 2024 (only 920 homes on the market), scarcity is fueling rising values.

🏡 "Marry the Home, Date the Rate"

Here's the golden rule: buy the home you love, and refinance the rate later.

A $500,000 home purchased today can be refinanced in a few years when rates dip, potentially saving you hundreds each month. But wait too long? Someone else might snag it first. Homes in Mercer County are selling fast—averaging just 36 days on market.

📊 Real Market Trends: Prices Are Rising

Mercer County's pricing data tells a clear story: home values keep climbing while buyers sit on the sidelines. As of late March 2025, listings ranged from $85K to nearly $4M, with a median of $485,000.

• In April 2024, a 4-bed in Hamilton sold for $410,000.
• In October, a similar one on the same street closed at $613,070.

CoreLogic predicts 5.3% national home price growth in 2025—Mercer County is likely to outperform that. Waiting for rates to drop just 1% could save $104/month on a $371K home... but that home might cost $393K by then.

📈 The Power of Buying Now

Let's run the math: Buy a $350,000 home at 6.5%—monthly payment: $2,211.

• If it appreciates just 5% in one year, it's worth $367,500.
• You also pay down about $5,000 in principal.
• Total net gain: over $22,000 in equity.

Meanwhile, rents rose nearly 8% in 2024. You're locking in a payment while renters keep absorbing hikes.

And not every deal goes above asking. In December 2024, 36% of homes sold below list, including:

• A $610,000 Princeton townhouse at 12 Lexington Ct.
• A $315,000 detached home at 433 Sandalwood Ave., Trenton

There are still opportunities—if you move now.

🏁 Final Thought: Don't Let Rates Steer the Ship

Yes, mortgage rates matter—but they're just one piece of the puzzle. In Mercer County's tight market, low inventory and rising prices matter more. With 43 homes under contract in four days and nearly half of sales going over asking, waiting could cost you far more than it saves.

Find a home you love. Lock in a rate you can afford. Refinance when the time is right—but don't miss your shot at building real wealth today.