Basking Ridge NJ Real Estate - Closed Sales MAY 2012
Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â by Bob Zorechak - GRI, ABR, e-PRO
Buyers and Sellers! Has the market really bottomed out yet? May Sales
are up by 24% as compared to last May and Year-to-Date sales are up by
15%. Read here to find out the very latest information on your local Basking Ridge NJ Real Estate market!
Closed Sales in Basking Ridge
increased significantly by 24% for the month of May as compared to this
same period last year (31 sales in May 2012 as compared to 25 in May
2011). Year-to-Date sales are also up by 15% through May as compared to
the same period last year (122 sales in 2012 vs.106 sales in 2011).
is still too soon to tell if this trend will continue throughout the
rest of the year, however it is a very positive good sign of the market
finally heading in the right direction.
There has rarely been a time where both prices and
interest rates were so low. Combine these two factors with a relatively
high inventory of homes to choose from and you have the perfect
conditions for a robust and steady housing recovery. The general state
of the economy along with a high rate of foreclosures and distressed
properties are expected to keep prices low for several more years as
this inventory eventually gets cleared out.
is a certain amount of "pent-up demand" on both the buying and selling
side of this market as many buyers and sellers have been sitting on the
fence for several years now and see that the pendulum is beginning to
swing in the other direction and as a result, they are taking action.
Look below to see the individual homes that sold in Basking Ridge
NJ for the month of MAY in 2012. Â Also shown below is a year to year
comparison bar graph for homes SOLD in the month of MAY over the past 5
years, followed by another graph illustrating the amount of homes that
have SOLD Year-to-Date through May through the same period.
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