The market in Basking Ridge has picked up – there is no doubt about that. There were seven contract sales this past week – I can’t post them because they aren’t my listings but two colonials and five townhouses went under contract. There are 12 properties with contracts in attorney review and at least one other that I know of that is negotiating multiple offers (cross your fingers for my buyers!)
Seventeen new listings priced from $230,000 to $1,999,999 (one of which is already under contract).
Two closings: 7 Honeyman Road in the Liberty Ridge in the Hills sold for $630,000 after 69 days on the market and 12 Chaucer Court in the Canterbury development sold for $,570,000 after only 24 days on the market.
There are 162 listings available in Basking Ridge, there were 31 contract sales in the last month – – absorption rate is only 5.2 months – a balanced market!