Bedminster NJ Real Estate Market Update JANUARY 2015

The numbers for Bedminster are mostly up for JANUARY 2015.

  • The rolling 12 month sales volume has decreased slightly by nine (9) units or (4%) – Last year: January 2013 thru January 2014  (200) homes sold as compared to the current period: January 2014 thru January 2015 with (191) homes sold.  This is the fourth consecutive monthly decline in this category in at least the past seven months.

  • The January year-to-date numbers are up modestly by three (3) units or (23%) when compared to last year’s year-to-date total of (13) homes sold to the current period with (16) homes sold. This is the highest YTD volume for January in at least the past (5) years.

  • The monthly volume for the number of sales occurring this January was sixteen (16) homes, which rose by three (3) units or (23%) as compared to last January when there were thirteen (13) homes sold.

  • The volume of Pending Sales (Under Contract) as of the last day of January 2015 is running moderately higher by four (4) units or (36%) as compared to last year’s volume which was eleven (11) units versus the current year’s volume of fifteen (15) units.  This should bode well for at least the short term going forward.

  • 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 January is at 3.6 months, which is up modestly (29%) when compared to last year’s inventory at 2.8 months. Basically this indicates that the Bedminster market has a significant shortage of inventory for Buyers to choose from and is even less “balanced” now than in prior years, although this increase could indicate a potential shift from the current position or some of the increase may be due to the season. As long as the inventory remains below 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!

Although it is very early in the year, it appears that the Bedminster market is cooling off just a bit from a very busy 2014. The rolling 12 month sales volume has been dropping slightly for the past several months. This category is something to watch over the next few months in order to determine if a new trend is emerging or if this is just a minor slowdown. The number of of homes Pending or Under Contract is up by 36% or 4 units as compared to last year at this same time, which should bode well at least for the near term.  The overall inventory is well below 6 months, so sellers still have a decided edge over buyers at this point in time. 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 JANUARY in 2015.  Also shown below is a bar graph illustrating the amount of homes that have SOLD Year-to-Date through JANUARY over the past five (5) years, followed by another graph showing a year to year comparison for homes SOLD in the month of JANUARY over the same five (5) year period.

Bedminster_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_January_2015_Bar_Graph

Year to Date Comparison of Homes SOLD in Bedminster NJ YTD through JANUARY 2011 to 2015

 

Bedminster_NJ_Real_Estate_-_Closed_Sales_for_January_2015_Bar_Graph

Year to Year Comparison of Homes SOLD in Bedminster NJ JANUARY 2011 through 2015

 


 

Sales from Current Month

 

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2015_

 

 (Double click on spreadsheet for an enlarged view)

 


 

Prior Months’ Market Update

 

Bedminster NJ Real Estate Market Update DECEMBER 2014

 

Bedminster NJ Real Estate Market Update NOVEMBER 2014

 

 


 

Sales from Prior Months

 

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_December_2014_

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_November_2014_Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_October_2014_Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_September_2014_

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2014_

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014_

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2014_-_Part_1Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2014_-_Part_2

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2014

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2014

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2014

(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:

All you need to know about Bedminster NJ 

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,BernardsvilleFar 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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