Basking Ridge Real Estate » Basking Ridge Market information http://basking-ridge-real-estate.com/blog Real Estate Information from Jennifer Blanchard Thu, 09 Sep 2010 13:19:13 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 The Buying Trend Continues http://basking-ridge-real-estate.com/blog/general-real-estate-info/the-buying-trend-continues/ http://basking-ridge-real-estate.com/blog/general-real-estate-info/the-buying-trend-continues/#comments Sat, 03 Oct 2009 21:56:01 +0000 Jennifer Blanchard http://basking-ridge-real-estate.com/blog/?p=528 improvement__2RE0K2LSV

Consumers are busy buying houses, according to the National Association of Realtors (NAR), which announced this week that its Pending Home Sales Index rose 6.4 percent in August to its highest level since March 2007. The uptick in pending home sales marked the seventh consecutive monthly increase, the longest in the series of the index which began in 2001.

A forward-looking indicator based on contracts signed to purchase a home, the Pending Home Sales Index in the Northeast jumped 8.2 percent from July and is 12 percent higher than August 2008. 

Conditions remain ideal for purchasing a home. Freddie Mac’s Primary Mortgage Market Survey showed that rates on 30-year fixed-rate mortgages are averaging less than 5 percent and nearing the all-time low set in March. In addition, first-time buyers still have a few weeks to get under contract in time to take advantage of the $8,000 buyer tax credit.

Are you interested in buying or selling your Basking Ridge home?  Click here for to see what’s for sale in Basking Ridge or here to get an estimate of your home’s current value.

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]]> http://basking-ridge-real-estate.com/blog/general-real-estate-info/the-buying-trend-continues/feed/ 0 September Market Stats in Basking Ridge http://basking-ridge-real-estate.com/blog/basking-ridge-real-estate-info/september-market-stats-in-basking-ridge/ http://basking-ridge-real-estate.com/blog/basking-ridge-real-estate-info/september-market-stats-in-basking-ridge/#comments Thu, 01 Oct 2009 03:07:26 +0000 Jennifer Blanchard http://basking-ridge-real-estate.com/blog/?p=514 If you follow my site, you know that I post monthly closed sales.  One thing I also do is categorize and analyze the data.  One thing I haven’t done is figured out how to graphically display it in a meaningful way.  So each month, I capture the data, I look at it and draw some conclusions in my mind – maybe I share them with Carl as we watch television (I always seem to be watching televsion with my laptop in my lap), but it doesn’t go much further than that.  Well, except that all the data in my head helps me do my job better!  Anyway, I thought I would share this month’s stats.

  Sales avg sale price avg DOM avg LP to SP
Total Sales in Basking Ridge 29 $695,462 121 95%
Single Family homes 12 $1,080,992 126 93%
Townhouse/Condos 17 $423,324 117 96%
New Construction 1 $2,728,900 329 124%
The Hills 8 $754,125 118 96%
Single Family in the Hills 2 $1,270,000 92 94%
Single Family Not in the Hills 10 $1,043,190 133 93%
Townhouse/Condos in the Hills 6 $582,167 127 96%
Townhouse/Condo Not in the Hills 11 $336,682 112 96%

Break down by Townhouse community:

  Sales avg sale price avg DOM avg LP to SP
Spring Ridge 4 $310,750 119 96%
Society Hill 3 $295,333 156 95%
The Cedars no sales      
The Hills/Patriot Hill 1 $588,000 29 95%
The Hills/The Hamiltons 3      
The Barons no sales      
Maple Run 1 $475,000 131 95%
The Ridge no sales      
Countryside 2 $364,750 66 97%
Lord Stirling Village 1 $370,000 25 96%
The Hills/Amherst Mews no sales      
The Hills/Patriot Mews 2 $679,500 192 97%

The few things I find worthy of comment: we had the exact same number of closed sales in September, 2008.  The average sale price of a single family home that closed in September, 2009 exceeded $1,000,000 – that was very surprising to me given that inventory in that price range has been high and sales have been slow.  At first glance, average over all sale price also looks high to me. 

Soon, I will work on the best way to post this information each month…. if you have any ideas for me, please let me know!

If you are thinking of buying a home in Basking Ridge,  view Condo and Townhouses for sale or check out the single family home listings.  Thinking of selling?  I can help you understand the value of your Basking Ridge Home.

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