Bedminster NJ Real Estate Market Update MAY 2015

 

The numbers for Bedminster are mostly down for MAY 2015.

  • The rolling 12 month sales volume has decreased modestly by twenty-nine (29) units or (14%) – Last year: May 2013 thru May 2014  (204) homes sold as compared to the current period: May 2014 thru May 2015 with (175) homes sold.

  • The May year-to-date numbers are down modestly by eleven (11) units or (15%) when compared to last year’s year-to-date total of seventy (70) homes sold to the current period with fifty-nine (59) homes sold. This is the second lowest YTD volume for May in at least the past (5) years.

  • The monthly volume for the number of sales occurring this May was seventeen (17) units as compared to last year’s volume of twenty (20) units is down by three (3) units or (15%). This has been the second slowest May in at least the past five years.

  • The volume of Pending Sales (Under Contract) as of the last day of May 2015 is running moderately lower by two (2) units or (8%) as compared to last year’s volume which was twenty-four (24) units versus the current year’s volume of twenty-two (22) 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 May is at 6.2 months, which is up significantly (59%) when compared to last year’s inventory at 3.9 months. Basically this indicates that the Bedminster market has shifted from a strong seller’s market towards a more 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!

This was the slowest May in at least the past five years and represents a reversal of four consecutive years of increased year over year sales volume. The rolling 12 month sales volume has dropped for the past eleven months in a row. It is clear by now that the local Bedminster market is beginning to cool off as the overall volume of closed sales (year-to-date and monthly volume) has decreased for the second time in at least five years.  The number of homes Pending or Under Contract is also down at twenty-two (22) units from last year at this time which was at twenty-four (24) units. The overall inventory has risen above 6 months for the first time this year and is now at the level of a balanced market representing a clear shift. 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 MAY in 2015.  Also shown below is a bar graph illustrating the amount of homes that have SOLD Year-to-Date through MAY over the past five (5) years, followed by another graph showing a year to year comparison for homes SOLD in the month of MAY over the same five (5) year period.

Bedminster_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_May_2015_Bar_Graph

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

 

Bedminster_NJ_Real_Estate_-_Closed_Sales_for_May_2015_Bar_Graph

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

 


 

Sales from Current Month

 

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2015_

 

 (Double click on spreadsheet for an enlarged view)

 


 

Prior Months’ Market Update

 

Bedminster NJ Real Estate Market Update APRIL 2015

 

Bedminster NJ Real Estate Market Update MARCH 2015

 

Bedminster NJ Real Estate Market Update FEBRUARY 2015

 

Bedminster NJ Real Estate Market Update JANUARY 2015

 

 


 

Sales from Prior Months

 

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2015_

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2015_

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2015_

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2015_

 


 

 

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_2Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2014Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2014Bedminster_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.

There are no comments yet. Be the first and leave a response!

Leave a Reply

Wanting to leave an <em>phasis on your comment?

Trackback URL http://newjerseyrealestatefinder.com/north-nj-real-estate-areas/bedminster/auto-draft-83/trackback/