Bedminster NJ Real Estate Market October 2011

Below you you will find the latest information for the Bedminster NJ Real Estate Market October 2011. Current trends indicate an increase in inventory when comparing October 2011 to the same period in 2010, in addition to the same periods going back several years to 2008. Pending Sales have remained low with the exception of 2009 which is primarily due to the federal government’s real estate stimulus package. The same can be said for the number of Closed Sales which show a gradual decline in activity since 2008, with the Average Sales Price remaining somewhat steady.

With a 7.4 month supply of inventory currently available, buyers have the advantage in this market, especially with interest rates at or near all time lows and prices continuing to be under downward pressure from a variety of factors including an increased rate of distressed sales along with a weak economy.

Residential Single Family Properties

  • Number of ACTIVE listings (homes For Sale) on the market:                       120
  • Number of CLOSED transactions (homes Sold) in October:                            6
  • Number of PENDING sales (homes Under Contract) in October:                      9
  • Average Sales Price (Sold):                                                           $367,333
  • Average List Price (For Sale):                                                         $971,019
  • Sales to List Price Ratio:                                                                      96%
  • Average Days on Market:                                                                        85
  • Absorption Rate*  (Months of Supply):                                         7.4 months

* This figure represents the number months it will take to sell off all of the current inventory at the present rate of sales:

    • 4 months or less is considered to be a Seller’s market with limited inventory to choose from.
    • 5 to 6 months is considered to be “normal” market.
    • 7 months or more is considered to be a Buyer’s market with excess inventory and plenty of homes for buyers to choose from.

Bedminster NJ Rolling 13 Month Listing & Sold Activity thru October 2011

Bedminster NJ Homes Listed For Sale October

Bedminster NJ Pending Sales (Under Contract) October

Bedminster NJ Closed Sales (SOLD) October

Bedminster NJ - Average Sales Price - October

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