If you are seeing this message you have accessed my website via an older link. Visit the new Basking Ridge Real Estate website here.
Contract Sales and Price Adjustments:
Sixteen contract sales since February 1st – the buyers are out there! And, one of those sales was of a property that wasn’t even listed for ten days – price it right and it will sell! Ten sellers adjusted their list price – of those ten, two sold just after the price change. At least one of those entertained multiple offers. Price it right and it will sell!
Eleven closed sales:
154 Alexandria Way $227,500
186 Potomac Drive $253,000
60 Smithfield Court $255,000
30 Village Drive $330,000
10 Cannon Court $475,000
15 Battalion Drive $500,00
27 Crest Drive $657,500
180 Smoke Rise Road $661,000
23 Princeton Court $703,000
21 Beacon Crest Drive $1,040,000
17 Cedar Creek Drive $1,220,000
Properties in red were sold by ME! And I have another Basking Ridge closing tomorrow afternoon.
New Listings:
I can’t post address for properties that aren’t listed by me until they are sold. But I can tell you that there are 26 new listings in Basking Ridge. Fourteen of them are colonials, one bi-level, a split level, an expanded ranch the rest are townhouses and condos. One of the townhouses is entertaining multiple offers, one of the colonials is negotiating a contract and another of the single family homes is already under contract. The Spring Market is HERE for sure!
Basking Ridge Market absorption is at 5.6 months – a nicely balanced market (though still favoring buyers). There are 135 properties available and 24 have sold in the last 30 days.
Sneak Peak – I am working on three listings that should be ready by the end of March. Two colonials in Basking Ridge and one in the northwest section of Bridgewater.
Basking Ridge Real Estate
My website: www.Basking-Ridge-Real-Estate.com – the only site you need for all things about Basking Ridge Real Estate is going off-line next week for about two weeks. We are working on a complete re-design that will improve the search experience. I will still be available on our old website should you need to find me – and of course on Facebook and Twitter!
Pending Sales up over last year
According to the National Association of Realtors (NAR), pending home sales eased in December after reaching a 19-month high, but remained above year-ago levels.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 3.5 percent in December when compared to November’s results, but is 5.6 percent above December 2010.
Lawrence Yun, NAR chief economist, said the trend line remains positive. “Even with a modest decline, the preceding two months of contract activity are the highest in the past four years outside of the homebuyer tax credit period,” he said.
Yun also recognized that contract failures are still an issue, but that many homebuyers are finding ways to complete their purchases. For example, some buyers successfully complete the sale after a contract delay, while others stay in the market after a contract failure and make another offer.
“Housing affordability conditions are too good to pass up,” he said. “Our hope is lending conditions will gradually improve with sustained increases in closed existing-home sales.”
January Sales in Basking Ridge
| 72 Gerard Ave | $540,000 | |
| 86 Vanderveer Drive | $998,800 | |
| 11 E. Ash Street | $815,000 | |
| 40 Sentinel Drive | $1,056,000 | |
| 17 Berta Place | $801,000 | |
| 11 Archgate Road | $690,000 | |
| 27 Crest Drive | $657,500 | |
| 116 Huntington Road | $576,000 | |
| 2 Commonwealth Dr. | $232,500 | |
| 380 Potomac Drive | $275,000 | |
| 322 Alexandria Way | $425,000 | |
| 84 Countryside Drive | $285,000 | |
| 38 Roberts Circle | $480,000 | |
| 223 Alexandria Way | $170,000 | |
| 180 Patriot Hill Drive | $590,000 | |
| 82 Dorchester Drive | $408,000 | |
| 162 Alexandria Way | $230,000 | |
| 436 Penns Way | $280,000 |
Five closings in Basking Ridge this past week
436 Penns Way – Society Hill Townhouse – $280000
15 Battalion Drive – The Hamiltons – $500000
10 Cannon Court – The Hamiltons – $475000
180 Smoke Rise Road – Single Family home – Carlisle – $661000
30 Village Drive - Lord Stirling Village – $330000
Market Activity in Basking Ridge
There were ten contract sales – ranging from $223,000 to $1,400,000. Sellers – the BUYERS are out there!
There were seven price adjustments – BUYERS – there are some great deals out there – Search for Basking Ridge homes for sale here!
There were thirteen new listings – again, buyers – there are some great deals out there!
With 27 contract sales in the last thirty days and 129 active listings in Basking Ridge, market absorption is under five months!
Winter Tips for Homeowners
According to Punxsutawney Phil, who saw his shadow on Groundhog Day, there are six more weeks of winter ahead. With the potential for cold and inclement weather on the horizon, it is an opportune time to make sure the interior and exterior of your home are adequately prepared.
If you haven’t done so already, spend some time taking care of these winterizing tasks:
- Heating a home is expensive, and you can keep costs down by caulking any cracks around windows and doors that let cold air in and heat escape. You should also be sure to clean or replace furnace filters to help your heating system run more efficiently and effectively.
- Clear all debris from your gutters, even if you have a covered gutter system. Any leaves or other materials left in the gutters can freeze and damage the gutters themselves, and could also force freezing water up under your shingles and damage the roof.
- Be prepared with everything you need in the event of a big snow storm. This includes tools for removing snow, such as a snow blower with a full tank of gas, shovels and a melting agent such as rock salt. No less important are items like extra blankets, warm clothing, and enough food and water to sustain your family in case of a few days of isolation.
Ten sales in Basking Ridge since January 15th:
223 Alexandria Way – this was a bank approved short sale – sold for $170,000
436 Penns Way – $280,000
38 Roberts Circle – $480,000
11 E. Ash Street – $815,000
82 Dorchester Drive – $408,000
180 Patriot Hill Drive – $590,000
162 Alexandria Way – this was a foreclosure – sold for $230,000
40 Sentinel Drive – $1,056,000
17 Berta Place – sold over asking at $801,000
11 Archgate Road – $690,000
Are you considering a move into or out of Basking Ridge? Make us your Basking Ridge Real Estate resource!
11 Archgate Road closed yesterday – list price was $699,000, sale price $690,000!
Also closed this week was 15 Frohlin Drive in Bridgewater; sale price $310,000.
For information on how to get YOUR home sold, you can visit Basking Ridge Real Estate or Bedminster Real Estate and follow the link for a free home value report.
There was only one closing this week in Basking Ridge: 38 Roberts Circle, a town house in Maple Run sold for $480,000. The market must be getting better because I never would have guessed that this unit would have sold for so much! I’m very happy for that seller. 
There are several other units in that development that have been for sale recently, I’m quite sure we’ll see some of them returning to the market this spring. Hopefully they will have better luck this season!
Basking Ridge absorption rate is 6.2 months – there are only 132 properties available. In my network – both socially and professionally, I know of at least six homes getting ready to list… I’m hopeful that this will be a great selling season for both buyers and sellers!
Surrounding areas:
In Bedminster there were three closings this week: 77 Sage Court, a condo in the Mayfield section, closed for $189,000; 19 Eton Court a townhouse in Stone Run II sold for $363,500 (Judi and I sold this one!), 200 Old Farm Road a cape cod off of Lamington Road sold OVER ASKING for $801,000. Absorption rate in Bedminster is just under seven months – with 83 properties available, 25 under $300,000, and interest rates under 4%, it’s a great time to buy!
==================================================================================
Basking Ridge Home Value; Basking Ridge Townhouses for Sale; Basking Ridge Condos for Sale; Basking Ridge Homes for Sale; Contact Jennifer Blanchard; Get Basking Ridge Listing alerts in email
| 220 Woods End | Colonial | Prince Edward Pointe | $1,100,000 | $1,040,000 | |
| 46 Hansom Road | Colonial | Liberty Ridge | $649,000 | $625,000 | |
| 83 Childs Road | Ranch | $799,000 | $777,500 | ||
| 27 Liberty Ridge Road | Colonial | Liberty Ridge | $789,000 | $756,000 | |
| 14 Revere Drive | Colonial | Liberty Ridge | $799,000 | $736,000 | |
| 46 Vanderveer Drive | Colonial | Revere Hill | $1,029,000 | $965,000 | |
| 25 Tall Timber Lane | Colonial | River’s Edge Estates | $2,975,000 | $2,504,000 | |
| 75 Hardscrabble Road | Colonial | Franklin Corners | $850,000 | $805,000 | |
| 17 Roe Lane | Colonial | Gatehouse | $819,000 | $790,000 | |
| 60 Canterbury Way | Colonial | Canterbury Estates | $1,395,000 | $1,329,500 | |
| 4 Revere Drive | Colonial | Liberty Ridge | $719,000 | $673,500 | |
| 129 Woodman Lane | Colonial | Beacon Manor | $1,495,000 | $1,425,000 |
| 10 Springfield Lane | Townhouse | Amherst Mews | $900,000 | $885,000 | |
| 115 Countryside Drive | Condo | Countryside | $325,000 | $320,000 | |
| 107 Irving Place | Condo | Society Hill | $229,900 | $215,000 | |
| 4 Village Drive | Townhouse | Lord Stirling Village | $324,900 | $326,000 | |
| 194 Patriot Hill Drive | Townhouse | Patriot Hill | $599,000 | $580,000 | |
| 2 Benedict Crescent | Townhouse | Amherst Mews | $789,000 | $751,000 | |
| 45 Village Drive | Townhouse | Lord Stirling Village | $350,000 | $315,000 | |
| 440 Penns Way | Townhouse | Society Hill | $310,000 | $277,000 |
Wonderfully private – your own backyard oasis featuring an inground pool and a newly renovated kitchen! Beautifully situated on 3 magnificent acres and convenient to everything! Generously sized living and dining rooms. Finished lower level is walkout – offering a separate entrance, perfect for a home office or aupair suite. Every room has terrific views. The breakfast room opens to a tiered deck ringed with evergreens. This home is a perfect luxury townhome alternative…live here as it is or consider expanding as there is plenty of space and lots of potential!
Four bedrooms (3 bedroom septic), three full baths, two car garage, almost three acres, in-ground pool…and more!
Offered at $825,000 – SOLD for $777,500
Twelve closed sales in Basking Ridge since I last posted a market update on 11/16/11:
- 340 Penns Way closed for $215,000 – Society Hill
- 147 Jamestown Road closed for $232,500 – Spring Ridge
- 58 Alexandria closed for $273,500 – Spring Ridge
- 141 Village Drive closed for $$355,000 – Lord Stirling Village
- 65 S. Alward Ave closed for $549,900 – my listing! multiple offers!
- 215 Patriot Hill Drive closed for $557,500 – Patriot Hill in the Hills
- 117 Goltra Drive closed for $592,000
- 23 Forest Trail closed for $573,000
- 128 Patriot Hill Drive closed for $630,000 – Patriot Hill in the Hills
- 68 LibertyRidge Road closed for $764,000 – Liberty Ridge in the Hills
- 37 Chimney Ash Farm Road closed for $770,000
- 267 English Place is closing TODAY! – my listing!
There were 10 new listings in this time period and there were 13 contract sales – not bad for the last two weeks of November, traditionally the end of the Fall market. I am still very busy – writing a contract today, I have a listing appointment this week and another appointment with move-up buyers on Sunday. My partner Gerry is also out with clients this week…Maybe the Fall market will carry us right through to Spring!
Closings since October 22nd:
- 93 Atlas Road – List Price: $535,000 / Sale Price: $500,000
- 302 English Place – List Price: $215,900 / Sale Price: $197,000
- 2 Landau Road – List Price: $734,800 / Sale Price: $715,000
- 93 Countryside Drive – List Price: $189,900 / Sale Price: $178,000
- 41 Roberts Circle – List Price: $479,000 / Sale Price: $450,000
- 7 Quincy Road – List Price: $425,000 / Sale Price: $425,000
- 67 S Alward Avenue – List Price: $554,000 / Sale Price: $515,000
- 67 Vanderveer Drive – List Price: $1,069,900 / Sale Price: $1,060,000
- 56 Aspen Drive – List Price: $339,900 / Sale Price: $327,500
- 42 Baldwin Court – List Price: $159,600 / Sale Price: $159,600
- 16 Lindbergh Lane – List Price: $239,000 / Sale Price: $210,000
Click here for a list of additional homes that have sold in Basking Ridge.