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Jennifer Blanchard's Blog

By Jennifer Blanchard | Agent in Basking Ridge, NJ

Basking Ridge Market update

27 contract sales since March 1st – TWENTY-SEVEN – who says the buyers aren’t out there?  Four of these sales were under $200,000 (who would have thought we’d have inventory that low in Basking Ridge?  See, you can get a one bedroom condo here in town!).  Six of these sales were between $200,000 and $400,000; seven between $400,000 and $500,000.  There were eight sales between $600,000 and $1m and two over $1m.  Maybe you are ready to buy the next Basking Ridge home?  Search homes for sale in Basking Ridge.  This same time period last year saw 24 contract sales – not much different…

There have been thirteen closed sales in town since March 1st; including my listing at 36 Kensington Road which closed for $820,000 last Friday.

There have been SIXTY-FOUR new listings in Basking Ridge since March 1st, EIGHT of which are already in attorney review or under contract (with another one being negotiated, so that’s really nine!).  This time last year, there had been only forty-three new listings (two of which are STILL available!).

Market Absorption is 5.6 months across all price points.  Contact me if you’d like that information to be broken down by price point or specific community.

I will be listing a four bedroom, 2.5 bath colonial on an acre in the next month or two.  List price $700,000; please call me if you are interested in a pre-market preview.

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