Basking Ridge NJ Real Estate Market Update JUNE 2015


The numbers for Basking Ridge are somewhat of a mixed bag for the month of JUNE 2015:

  • The rolling 12 month sales volume was virtually unchanged with a moderate increase of sixteen (16) units or (4%). Last year: June 2013 thru June 2014  (407 homes sold) as compared to the current period: June 2014 thru June 2015 with (423 homes sold).

  • The June year-to-date numbers were down by seventeen (17) units or (10%) from last June which was one-hundred seventy (170) units as compared to the current period at one-hundred fifty-three (153) units. This is the lowest volume for this category in at least the past four (4) years and is the fourth consecutive month of declining sales volume in this category.

  • The volume of sales occurring in the month of June fell by eight (8) units or (16%). There were fifty-one (51) sales last June as compared to forty-three (43) sales for the current period. This was the slowest June in at least the past five years.

  • The volume of Pending Sales (Under Contract) as of the last day of June 2015 increased slightly by two (2) units or (4%). Last year at this time there were fifty-three (53) units Pending as compared to the current year with fifty-five (55) units.

  • The supply of available inventory (the time it would take to sell all of the homes currently on the market) as of the end of June is at 5.7 months, which is up modestly by 1.6 months or (39%) when compared to last year’s inventory at 4.1 months. Basically this indicates that the Basking Ridge market continues to have a shortage of available inventory with fewer homes for Buyers to choose from, however it looks as though we may be seeing the beginning of a shift towards a balanced market.  This will help keep prices up and the time it takes to sell a home very low. You would have to go back at least three years or more to find the last time Basking Ridge had something close to a “balanced” level of inventory for June. Most of the surrounding towns are in the exact opposite condition with too much inventory on hand.  For Basking Ridge, the sellers are in control of this market, at least for the short term.

Note: A “balanced” market is considered to have a 6 month supply. Anything below that amount would be considered a “low” inventory and thus less than balanced. This market condition typically favors Sellers.  Anything above a 6 month supply would result in a “high” inventory of homes on the market and typically favors Buyers.


Read below to find out the very latest information on your local Basking Ridge NJ Real Estate market!

While still very strong, the local Basking Ridge continues to show signs of cooling down just a bit in the first half of 2015. The rolling 12 month sales volume did rise, albeit by a very slim margin, however the year-to-date volume fell by (10%) which represents the fourth consecutive month of declines in this category. The monthly volume also fell by (16%) making it the slowest June in at least the past four years.

The volume of homes Pending or Under Contract was up slightly by two (2) units or (4%). Inventory was up sharply by (39%), but is most likely due to the season as many sellers wait until this time of the year to put their homes on the market. In addition, there is a pent up demand on the part of sellers to finally make a move after sitting on the fence for several years waiting for the market to improve.

Sellers continue to remain in control in the Basking Ridge market and we can expect to see modest price increases (especially in certain neighborhoods) as long as this pace continues and inventory remains low.

Look below to see the individual homes that sold in Basking Ridge NJ for the month of JUNE in 2015.  Also shown below is a year to year comparison bar graph for homes SOLD in the month of JUNE over the past 5 years, followed by another graph illustrating the amount of homes that have SOLD Year-to-Date through JUNE through the same period.


Year to Year Comparison of Homes SOLD in Basking Ridge NJ JUNE 2011 through 2015



Year to Year Comparison of Homes SOLD in Basking Ridge NJ JUNE 2011 through 2015




Sales from Current Month



 (Double click on spreadsheet for an enlarged view)



Prior Months’ Market Updates


Basking Ridge NJ Real Estate Market Updates




Sales from Prior Months













Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_November_2014 Part 1Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_November_2014_Part_2Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_October_2014Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_September_2014_Part_1Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_September_2014_Part_2Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2014_Part_1Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2014_Part_2Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2014_Part_3Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014_Part_1Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014_Part_2Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014_Part_3Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2014_Part_1Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2014_Part_2Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2014_Part_1Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2014_Part_2Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014_Part_1Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014_Part_2Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2014_Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2014_

(Double click on spreadsheet for an enlarged view)



All Listings Currently FOR SALE in Basking Ridge NJ



Other interesting articles on Basking Ridge NJ


There are many factors that make up the differences in local real estate markets, even from town to town and especially in a small state such as New Jersey. This is why it is important for both buyers and sellers to obtain the latest “local” market data before they make any real estate decisions.


For more information on Basking Ridge NJ including the schools, follow this link:

All you need to know about Basking Ridge NJ 

For more information on Basking Ridge NJ Real Estate, call me direct at (908) 267-2465, or email me at and I will be happy to discuss your specific real estate requirements.


How to find Listings on your own:

For listings or information on Basking Ridge NJ or any of the surrounding towns in  Somerset County including, Bedminster, Bernardsville, Far Hills and Peapack Gladstone, the Morris County towns of Morristown, Morris Township, Madison, the Chathams, the Mendhams, the Chesters, and Long Valley, along with the Hunterdon County towns of Lebanon and Tewksbury Townships, simply use the search tool located on the right side of this page.

All listings are updated throughout the day so be sure to come back often for the most current information.  If you are unable to find what you are looking for using the search function on this website, or you are looking for a home that is unique with specific features, feel free to contact me direct and let me know exactly what they are.  My colleagues and I preview all kinds of properties each week and will be sure to identify just what you are looking for.  In addition, my office often features “exclusive” listings that are not released to the public that might be of interest to you as well.  I will be glad to answer all of your questions and arrange to show you the homes of your choice at a time convenient to your schedule.

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