Basking Ridge NJ Real Estate Market Update JUNE 2014

The numbers for Basking Ridge through the month of JUNE 2014 are down a bit from last year at this same time with the exception of Pending Sales:

  • The rolling 12 month sales volume has decreased slightly, down by twenty-five (25) units or (6%) – Last year: June 2012 thru June 2013  (431 homes sold) as compared to the current period: June 2013 thru June 2014 with (406 homes sold).

  • The June year-to-date numbers are down moderately by twenty-nine (29) units or 15% when compared to last year’s year-to-date total (198 homes sold) to the current period with (169 homes sold).

  • The monthly volume for the number of sales occurring last June (55 homes sold) as compared  to this June (50 homes sold) is down five (5) units or (9%).

  • The volume of Pending Sales (Under Contract) as of the last day of June 2014 is running moderately higher (53) units as compared to last year at this same time at (44) units, which is up by 20% or nine (9) units. Note: This is the only category that is in positive territory for the month of June in Basking Ridge.

 

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. In general, the Basking Ridge market seems to be holding it’s own with respect to a continuing and steady recovery with homes selling on average within 33 Days on Market with the local inventory at 4 months of supply, however over the last 6 months inventory has increased and Days on Market has gone down to 26 days on average.  After a very difficult winter, many experts predicted a very robust Spring selling season which has turned out to be somewhat of a mixed bag. While there has been an increase of new inventory entering the market, some of these sellers who are unfamiliar with this market have priced their homes significantly above market value. They seem to be thinking that the “good old days” are back, which could not be further from the truth. Buyers are still in control of this market.

Interest rates remain at or near historic lows and prices are still relatively 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 older inventory eventually gets cleared out.

Look below to see the individual homes that sold in Basking Ridge NJ for the month of JUNE in 2014.  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.

 

Basking_Ridge_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_June_2014_Bar_Graph

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

 

 

Basking_Ridge_NJ_Real_Estate_-_Closed_Sales_for_June_2014_Bar_Graph

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

 

 


 

Sales from Current Month

 

Basking_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_2

(Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

 

Basking_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_2

Basking_Ridge_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014

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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