Posts Tagged ‘market activity’

Contract sales since Feb. 15th

77 Alexandria Way, Spring Ridge condo, $214,000
17 Baldwin Court, Society Hill condo, $265,000
318 Alexandria Way, Spring Ridge duplex, $489,900
29 Penwood Road, single family, $780,000 (multiple offers!)
11 Stirling Lane, single family, $869,000 (came on the market in atty rvw)
97 Bullion Road, single famiy, $965,000
88 Manchester Drive, single family, $1,000,000 (multiple offers)
33 Summit Drive, single family, $1,030,000
26 Deer Creek, single family, $1,199,000
9 Caldwell Court, single family in the hills, $1,299,000
47 Clairvaux Court, single family, $1,425,000

Closings since Feb. 15th:

94 Potomac Drive $215,000/$203,500, spring ridge condo
51 E Oak Street, $458,800/$445,000, single family home
18 Mayflower Drive, $518,000/$506,000, Hamilton Crest townhouse
93 Alder Lane, $635,000/$597,000, single family in the hills
322 S Finley Ave, $1,299,900/$1,200,000, single family

There were 25 new listings during this time frame.  Current market absorption is 6.2 months.  There are 12 properties working through attorney review.

If you are considering a move into or out of Basking Ridge, please call me.  As a full time Realtor and Basking Ridge resident, I love what I do – and I’m happy to help!  I can help you find the value of your Basking Ridge home, keep you informed of what has sold in Basking Ridge and notify you of new listings in Basking Ridge.

If Basking Ridge isn’t your destination, follow the links to find out what’s going in Bedminster, Bernardsville or the surrounding areas.

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There were 18 new listings in Basking Ridge this past week: several Spring Ridge and Society Hill townhouses and condos, a condo in The Cedars, a townhouse in Maple Run, two townhouses in The Barons, a townhouse in The Ridge and several townhouses in the Hills.  There were only three single family homes listed – a re-listed cape cod at $455,000, a re-listed bi-level at $525,000 and a relisted new construction home in the Tall Timber community priced at $2,289,000.

There were 7 contract sales:

234 Irving Place, Society Hill, list price $245,000
90 Jamestown Road, Spring Ridge, list price  $254,900
102 Woodward Lane, Society Hill, list price $259,000
2602 Hemlock Place, The Cedars, list price $299,900 
35 Cannon Court, The Hamiltons $539,000
25  South Alward Ave, single family home, list price $559,000
115 South Alward Ave, single family home, list price $719,000

Market Absorption in Basking Ridge is currently 7 months; there are 161 available properties and there have been 23 contract sales in the last 30 days. 

A word from Weichert about the home buyer credit and how it is impacting the market:

“The real estate market continues to show improvement as mortgage rates remain at historic lows and consumers respond to the tax credits for first-time and repeat buyers. In fact, the National Association of Realtors (NAR) just announced that its Pending Home Sales Index rose 1 percent from November.

A forward-looking indicator based on contracts signed in December, the index is now 10 percent above December 2008. What’s more, December activity was the fifth highest monthly tally in two years. A sale is listed as pending when the contract has been signed but the transaction has not yet closed. Because sales usually are finalized within one or two months of signing the contract, this improvement should result in higher home sales in the coming months.

According to Lawrence Yun, NAR chief economist, existing home sales are projected to rise to around 5.6 million in 2010, an 8.5 percent increase over 2009. As sales rise and inventory levels decline, housing wealth for many middle class families will stabilize.”

To get started on your home search visit my website to view all homes for sale in Basking Ridge.  I can also help you get an idea of the value of your Basking Ridge home.

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The following seven Basking Ridge properties went under contract during this past week:

214 English Place, Society Hill condo, list price $239,000
92 Potomac Drive, Spring Ridge condo, list price $240,000
10 Minuteman Court, The Hamiltons, list price $514,900 sold in under one week!
49 Queen Anne Drive, Single Family home, list price $564,900
93 Alder Lane, Single Family home, The Hills, list price $635,000
14 Cedar Street, Single Family home, list price $649,000
322 S. Finley Avenue, single family luxury home, list price $1,299,900 

There are no properties marked in the MLS as working through attorney review.  But there was an increase in inventory with 18 new listings – we are up to 133 properties showing active.

The following four properties closed during the same time frame:

185 English Place, Society Hill condo, list price $249,900/sold price $245,000, DOM 253
101 Countryside Drive, list price  $364,000/sold price$358,000, DOM 43
117 Cross Road, single family home, list price $565,000, sold price $560,000, DOM 214
36 Cobble Lane, Gatehouse single family home, list price $865,000, sold price $830,000, DOM 23

I share this information on a monthly basis – what SOLD this month in Basking Ridge, and almost weekly on my blog.  Please check back often to stay on top of the market!

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