Its worth what you or somebody is willing to pay! zillow.com is a good resource for the public to use, but its numbers are a liitle out of date and not totally accurate.

Hello Ash,
Single family homes in The Hills range from $550,000 all the way up over $1M and the townhouses are starting around $450,000 and go up to the mid-$900,s depending upon the development and amenities such as finished basements. I agree that the market isn't great - but we are finding that these homes are selling! Our community and schools play a huge role in our property values. If your goals are long range; I don't think you'll be disappointed if you buy a house in the Hills! We certainly have seen a decline in property values - if you had looked at these listings two years ago you would have seen much higher prices. We also see a significant variance between list price and sale price, so don't let current list prices deter you - we can always negotiate within reason using hard data and facts!

Please visit my website, I recently posted a blog entry that spotlights the different developments in that area. You can request listing alerts and also look at sale prices for the last 18 months.

Ash,
Prices have come down from their highs of 2005-2006 for the Hills and surrounding areas. They just haven't come down as much as some other areas due in part to the desirability of the area, the schools, the proximity of mass transit and major highways. The current prices reflect the quality of the area . If you are interested in the area I have over 20 years of experience working in the area. Additionally, if you saw a house with me that you wanted to make an offer on, I would produce a market analysis and/or show you what comparable homes had sold for to help guide you to a knowledgeable offer. You can reach me on my cell at 908-500-0116 or via e-mail at c21newbeg@aol.com.

Ash,
Properties in the Hills in Basking Ridge are always desirable and as such command prices that you might consider "high". However, this works in your favor also when it comes time to sell so, at the end of the day, this premium washes out. There are other very desirable communities in Basking Ridge where the prices are generally lower for comparable properties.
Please contact me at nickwelsh@weickert.com or (908) 295-5129 to discuss your needs in moe detail so that I can be of maximum assistance to you.
Thanks
Nick Welsh