Bedminster NJ Real Estate Market Update AUGUST 2014

The numbers for Bedminster are somewhat of a mixed bag for AUGUST 2014.

  • The rolling 12 month sales volume has increased modestly by eleven (11) units or (6%) – Last year: August 2012 thru August 2013  (187 homes sold) as compared to the current period: August 2013 thru August 2014 with (198 homes sold).

  • The August year-to-date numbers are up slightly by one (1) unit or (1%) when compared to last year’s year-to-date total of (133) homes sold to the current period with (134) homes sold.

  • The monthly volume for the number of sales occurring last August (30) homes sold, as compared to this August decreased significantly by twelve (12) units or (40%) with a total of (18) homes sold.

  • The volume of Pending Sales (Under Contract) as of the last day of August 2014 is running significantly lower by sixteen (16) units or (57%) as compared to last year’s volume which was (28) units versus the current year’s volume of (12) units.  This big drop in the backlog of pending sales may have a negative impact on the Bedminster market at least in the short term.

  • 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 August is at 3.8 months, which is down slightly (2%) when compared to last year’s inventory at 3.9 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. The result of this condition will no doubt keep prices up (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!

The Bedminster market continues to roll along at a very brisk pace and at the same time is significantly outperforming the neighboring towns in Somerset Hills. The biggest driver of this market is the high level of demand running directly up against a very low level of inventory.  One sign of caution is the significant drop in the number of pending sales (down this month by 57%). We will have to keep an eye out for this same category next month in order to see if a trend is developing.

With that said, sellers will continue to remain in control in the Bedminster market and we can expect to see modest price increases (especially in certain neighborhoods) as long as this pace continues and inventory remains low.

Look below to see the individual homes that sold in Bedminster NJ for the month of AUGUST in 2014.  Also shown below is a bar graph illustrating the amount of homes that have SOLD Year-to-Date through AUGUST over the past 5 years, followed by another graph showing a year to year comparison for homes SOLD in the month of AUGUST over the same 5 year period.

Bedminster_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_August_2014_Bar_Graph

Year to Date Comparison of Homes SOLD in Bedminster NJ YTD through AUGUST 2010 to 2014

 

Bedminster_NJ_Real_Estate_-_Closed_Sales_for_August_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Bedminster NJ AUGUST 2010 through 2014

 


 

Sales from Current Month

 

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2014_

 

(Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

 

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.

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/bedminster-nj-real-estate-market-update-august/trackback/