The numbers for Bedminster are somewhat of a mixed bag for SEPTEMBER 2015.
The rolling 12 month sales volume has dropped by twenty-two (22) units or (11%) – Last year: September 2013 thru September 2014 (200) homes sold as compared to the current period: September 2014 thru September 2015 with (178) homes sold.
The September year-to-date numbers are down by ten (10) units or (7%) when compared to last year’s year-to-date total of (152) homes sold to the current period with (142) homes sold.
The monthly volume for the number of sales occurring this September was twenty-one (21) units as compared to last year’s volume of eighteen (18) units is up by three (3) units or (17%).
The volume of Pending Sales (Under Contract) as of the last day of September 2015 is running at fifteen (15) units, which is two (2) units more than last year at this same time in 2014.
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 September is at 6.0 months, which is up by (25%) when compared to last year’s inventory at 4.8 months. Basically this indicates that the Bedminster market has shifted from a strong seller’s market towards a completely balanced market where both buyers and sellers are on equal footing. As long as the inventory remains around 6.0 months prices should remain steady or slightly higher at least for the near term as compared to other surrounding towns where there is more inventory available.
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 Bedminster NJ Real Estate market!
Despite (21) homes being Sold in September both the Year-to-Date and the rolling 12 month volume are both down by (7%) and (11%) respectively. The rolling 12 month sales volume has been in negative territory for the past fifteen months in a row. It is clear by now that the local Bedminster market is in a “cooling” period. On a very positive note however, the number of homes Pending or Under Contract remains up by two (2) units or (15%) as compared to this same period from last year. The overall inventory is now at an even 6 months worth of supply making it a balanced market Interest rates are at near record lows with the general state of the economy slowly improving, however NJ is lagging behind it’s neighboring states and there is still a considerable volume of foreclosure properties winding their way through the process before we can safely say the market is on a solid footing for a complete recovery.
Look below to see the individual homes that sold in Bedminster NJ for the month of SEPTEMBER in 2015. Also shown below is a bar graph illustrating the amount of homes that have SOLD Year-to-Date through SEPTEMBER over the past five (5) years, followed by another graph showing a year to year comparison for homes SOLD in the month of SEPTEMBER over the same five (5) year period.
Sales from Current Month
(Double click on spreadsheet for an enlarged view)
Prior Months’ Market Updates
Sales from Prior Months
(Double click on spreadsheet for an enlarged view)
All Listings Currently FOR SALE in Bedminster NJ
Other interesting articles on Bedminster 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 Bedminster NJ including the schools, follow this link:
For more information on Bedminster 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 Bedminster NJ or any of the surrounding towns in Somerset County including, Basking Ridge,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.