Archive for the ‘New Listings’ Category
Basking Ridge Market Activity – What SOLD this week?
December 18th, 2009 | 
Author: 
I’m ready – are you? I stopped at the market on the way home and picked up all sorts of stuff for cookie making…that’s what I’m planning to do tomorrow! And I rented some movies – gotta get the firewood ready!! It’s winter!!
But – business goes on as well! I continue to be encouraged by the level of activity we are seeing here in town even with the holidays right around the corner.
Click over to the new Basking Ridge Patch for my article on marketing your home during the holiday season! I am the real estate feature writer for this great new hyperlocal website!
I am headed out for some holiday cheer this evening, but please don’t hesitate to contact me over the weekend. I love to talk real estate and I’m happy to provide you with any information you need regarding real estate in Basking Ridge!
Have a great weekend!
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What SOLD this week in Basking Ridge? What are the NEW listings?
EIGHT sales over the last nine days – not a bad week or so for Basking Ridge, NJ!
There are an additional 5 properties that are working through attorney review. Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by month over the past year.
As of this evening there a total of 152 listings showing active in Basking Ridge in the MLS. With 22 going under contract in the last 30 days, Basking Ridge market absorption is 6.9 months. A very respectable inventory level for this season.
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of moving, I can provide a free market analysis of your home’s value in today’s market.
Tags: What SOLD this week in Basking Ridge? What are the NEW listings?
11/28/2009 – 12/04/2009
Same as last week there were only TWO sales here in Basking Ridge.
There are an additional 12 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. Only 11 show as being in Attorney Review – I have a deal at the attorneys but the listing agent has chosen not to mark the property as such. This is a good time for me to remind you that the data I report is only as accurate as what is in the MLS, or what I can add from personal involvement in any deal.
Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by month over the past year.
New to the Basking Ridge market are 20 properties. Before you say, “WOW, why are so many people listing their homes NOW, let me explain that many of these are relists. There has been some restructuring of several firms here in town. Coldwell Banker has absorbed Burgdorff and several Burgdorff agents had their clients pull their listings off the market until they figured out where they were going to hang their license. Some of these issues have been resolved and the homes are now back on the market. As always, I have marked the relists.
As of this evening there a total of 164 listings showing active in Basking Ridge in the MLS. With 21 going under contract in the last 30 days, Basking Ridge market absorption is 7.8 months. A one month difference from last week – due mostly the “new” listings appearing as an increase in inventory. This is why I don’t like to track Market Absorption every week, I prefer to look at the trends.
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of moving, I can provide a free market analysis of your home’s value in today’s market.
What’s going on next door in Bernardsville, NJ?
I am working on a market analysis for a listing appointment scheduled for Wednesday night. The property is a lovely expanded bi-level with over 3000 square feet of living space. Updated bathrooms and a kitchen with a very recent face lift – I am looking forward to getting it on the market! Here is some of the analysis I have done so far.
Bernardsville, NJ Market Snapshot
5 properties under contract since 10/30/2009
88 properties available (as of 11/30)
Overall Market Absorption: 17.6 months
Adjusted Market Absorption: eliminating luxury properties (over $1M): 39 available, 5 under contract = 7.8 months of inventory – not such a bad outlook.
What’s available?
- 15% of the inventory is listed under $500,000 (13/3=4.3 months)
- 30% of the inventory is listed between $500,000 and $1,000,000 (27/2=13.5 months)
- 55% of the inventory is listed over $1M (can’t calculate)
Properties Comparable to this new listing:
Sold:
| 8 | Columbia Drive | 4 | 3.1 | Colonial | $580,000 |
| 64 | Mt. Harmony | 4 | 3.1 | Colonial | $630,000 |
| 145 | Mount Airy Road | 4 | 2.1 | Colonial | $670,000 |
| 27 | Sycamore Hill Rd | 4 | 2.1 | Split Level | $600,000 |
| 25 | Old Army Rd | 4 | 2.1 | Colonial | $620,000 |
| 19 | Columbia Dr | 4 | 2.1 | Colonial | $677,000 |
| 26 | Childs Road | 4 | 2.1 | Colonial | $745,000 |
| 21 | Burrows Ave | 3 | 2.1 | Colonial | $589,000 |
| 67 | Dayton Cres | 4 | 4.1 | Colonial | $625,000 |
Stay tuned for more information about the property and it’s list price!!
What SOLD in Basking Ridge last week? What’s NEW?
11/21/2009 – 11/27/2009
I am back from a long weekend spent with family; hoping that my readers have enjoyed their long weekend as much as I did! I think that most buyers were also spending time with family – as there were only TWO sales last week here in Basking Ridge.
There are an additional 12 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. I guess not everyone was only thinking Turkey last week!
Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by month over the past year.
As of this evening there a total of 155 listings showing active in Basking Ridge in the MLS. With 19 going under contract in the last 30 days, Basking Ridge market absorption is 8.2 months. Again, a normal fluctuation.
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of moving, I can provide a free market analysis of your home’s value in today’s market.
What sold last week in Basking Ridge? What’s NEW?
11/14/2009 – 11/20/2009
Six properties went under contract this past week in Basking Ridge.
There are an additional 8 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by month over the past year.
As of this evening there a total of 161 listings showing active in Basking Ridge in the MLS. With 21 going under contract in the last 30 days, Basking Ridge market absorption is 7.6 months. A normal fluctuation.
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of moving, I can provide a free market analysis of your home’s value in today’s market.
What sold in Basking Ridge last week? What is new to the market?
11/07/2009 – 11/13/2009
Only 2 properties went under contract this past week in Basking Ridge.
There are an additional 10 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. I think it is interesting that although there were NINE properties in attorney review this time last week – that only two have made it to contract. I wonder why attorney review is taking so long on some properties.
Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by month over the past year.
As of this morning there a total of 164 listings showing active in Basking Ridge in the MLS. With 23 going under contract in the last 30 days, Basking Ridge market absorption is 7 months. A normal fluctuation.
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of moving, I can provide a free market analysis of your home’s value in today’s market.
What sold last week in Basking Ridge, NJ – what’s NEW to the market?
I had to update this post to acknowledge and celebrate the fact that it is the ONE HUNDREDTH post for the blog at www.Basking-Ridge-Real-Estate.com!!!
10/31/2009 – 11/06/2009
6 properties went under contract this past week in Basking Ridge (twice as many as last week!)
There are an additional 9 properties that are working through attorney review (all under $650,000) which means they have accepted offers and lawyers are working through the contract details.
Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by month over the past year.
As of this morning there a total of 171 listings showing active in Basking Ridge in the MLS. With 34 going under contract in the last 30 days, Basking Ridge market absorption is 5 months. The absorption rate has been decreasing quite steadily; I have to attribute this to listings expiring or coming off the market for the holidays as much as I can say it’s because there are buyers out there. There ARE buyers out there – between 30 and 36 on a rolling 30 day basis – but there are also many listings that are simply coming off the market. I am SURE we will see a surge of “new” listings after the first of the year. Some of these will be new to the market and some will be returning to the market after not selling this past 6-12 months. Pricing is going to be key for these properties.
A note to sellers who are considering waiting until after the new year: The first time home buyer tax credit was extended AND it’s been expanded to include repeat buyers so if you list now, you may capture people moving up from a condo or a townhouse into your single family home. Buyers have to be under contract by April 30th to qualify. I do not think the winter market is going to slow down. If you wait until March you will miss anyone looking to capitalize on the credit. Just something to think about!
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of moving, I can provide a free market analysis of your home’s value in today’s market.
What SOLD in Basking Ridge NJ this week? What’s new to the Market?
10/17/2009 – 10/23/2009
3 properties went under contract this past week in Basking Ridge (a quiet week here in town):
There are an additional 5 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. One thing that I have noticed recently is that properites are staying in attorney review longer; I have seen listings go from attorney review to under contract and then close in a matter of days after sitting in attorney review for a long time.
There are 187 properties currently for sale in Basking Ridge.
Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.
As of this morning there a total of 187 listings showing active in Basking Ridge in the MLS. With 35 going under contract in the last 30 days, Basking Ridge market absorption is 5.4 months; clearly a stable market.
Please contact me if you would like to discuss my strategy for negotiating contracts in today’s real estate market.
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of selling your home, I can provide a free market analysis of its value in today’s market.
What SOLD in Basking Ridge this week, what is NEW?
10/10/2009 – 10/16/2009
10 properties went under contract this past week in Basking Ridge
There are an additional 6 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. There are only 187 properties currently for sale in Basking Ridge, this is really low – but I expect that given the season.
Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.
As of this morning there a total of 187 listings showing active in Basking Ridge in the MLS. With 35 going under contract in the last 30 days, Basking Ridge market absorption is 5.4 months; clearly a relatively stable market.
Please contact me if you would like to discuss my strategy for negotiating contracts in today’s real estate market.
Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.
If you are thinking of selling your home, please click here for a free market analysis of it’s value in today’s market.