Bedminster NJ Real Estate Market Update NOVEMBER 2014

The numbers for Bedminster are somewhat flat but still strong for NOVEMBER 2014.

  • The rolling 12 month sales volume has decreased slightly by five (5) units or (3%) – Last year: November 2012 thru November 2013  (195) homes sold as compared to the current period: November 2013 thru November 2014 with (190) homes sold.  This is the second consecutive monthly decline in this category in at least the past six months.

  • The November year-to-date numbers are down slightly by seven (7) units or (4%) when compared to last year’s year-to-date total of (180) homes sold to the current period with (173) homes sold. This is the second highest YTD volume for November in at least the past (5) years.

  • The monthly volume for the number of sales occurring this November was eight (8) homes, which fell by one (1) unit or (11%) as compared to last November when there were nine (9) homes sold.

  • The volume of Pending Sales (Under Contract) as of the last day of November 2014 is running significantly lower by nine (9) units or (50%) as compared to last year’s volume which was (18) units versus the current year’s volume of (9) units.  This will negatively impact the volume of sales at least in 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 November is at 4.9 months, which is up significantly (75%) 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!

The Bedminster market is keeping close pace to last year’s record volume, especially for the YTD categories, however the significant increase in inventory along with the sharp drop in the number of homes that are Under Contract or Pending is somewhat of a concern. It could be indicating a shift in momentum, but hopefully it is only a temporary slowdown due in part to seasonality.  The overall inventory is still below 6 months, so sellers still have a slight edge over buyers. The next several months will be key in determining which way the local market is headed.

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

Bedminster_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_November_2014_Bar_Graph

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

 

Bedminster_NJ_Real_Estate_-_Closed_Sales_for_November_2014_Bar_Graph

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

 

 


 

Sales from Current Month

 

Bedminster_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_November_2014_

 

 (Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

 

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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