Basking Ridge NJ Real Estate Market Update APRIL 2014

Basking Ridge NJ Real Estate Market Update APRIL 2014

 

The numbers for Basking Ridge are a bit of a mixed bag for APRIL 2014:

  • The rolling 12 month sales volume has increased slightly up by 17 units (4%) – Last year: April 2012 thru April 2013  (409 homes sold) as compared to the current period: April 2013 thru April 2014 with (426 homes sold).

  • The April year-to-date numbers are down by 10% or two (10) units when you compare last year’s year-to-date total (96 homes sold) to the current period with (86 homes sold).

  • The monthly volume for the number of sales occurring last April (33 homes sold) as compared  to this April (28 homes sold) is down by 15% or five (5) units.

The volume of Pending Sales (Under Contract) as of the last day of April 2014 is running somewhat lower (43) units as compared to last year at this same time at (49) units, which is down by 12% or (6) units.

 

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

While all real estate is local, there are many positive signs being seen all across the Northeast and in other major regional markets across the country. The next several months will be critical in determining if the recent upswing has any sustained staying power.  Most experts are anticipating a longer, more robust spring selling season mainly due to the harsh winter, which delayed a lot of buyers from starting their search as well as sellers who planned on getting their homes ready for the market.

In addition to the harsh winter, there is also a certain amount of “pent-up demand” on both the buying and selling side of this market as many buyers and sellers have been sitting on the fence for several years now and see that the pendulum is beginning to swing in the other direction and as a result, they are taking action.

Prices are expected to remain steady and interest rates continue to remain low.  There has rarely been a time where both prices AND interest rates were so low. Combine these two factors with a relatively high inventory of homes to choose from and you have the perfect conditions for a robust and steady housing recovery. The general state of the economy along with a high rate of foreclosures and distressed properties are expected to keep prices low for several more years as this inventory eventually gets cleared out.

Look below to see the individual homes that sold in Basking Ridge NJ for the month of APRIL in 2014.  Also shown below is a year to year comparison bar graph for homes SOLD in the month of APRIL over the past 5 years, followed by another graph illustrating the amount of homes that have SOLD Year-to-Date through APRIL through the same period.

Basking_Ridge_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_April_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Basking Ridge NJ YTD through APRIL 2010 to 2014

 

Basking_Ridge_NJ_Real_Estate_-_Closed_Sales_for_April_2014_Bar_Graph

Year to Date Comparison of Homes SOLD in Basking Ridge NJ APRIL 2010 through 2014

 


 

Sales from Current Month

Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014

(Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

Basking_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_2

 

Basking_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 Bob@BobZorechakRealtor.com 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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