If you own a Basking Ridge home, you’d probably like to know the answer to this question: What will Basking Ridge Real Estate look like in five years?
Let’s look at some data regarding Basking Ridge real estate. Recently I was looking at the Bernards Township website and ran across a study for the Bernards Township School District (01/22/18). The purpose of the study is to project enrollments from 2018 to 2023 – a five-year period. The report compares the impact of new developments in town to enrollment in the school system. In order to set the stage, they took an overall historical look at the past, present and future population of the town. Which I found interesting and would like to share.
The jump in population from the late 1980’s to the early 2000’s can be attributed to the explosive growth of the Liberty Corner section of Bernards Township. Which in large part – I believe can be tied to the highly sought-after school system.
While births are declining – 367 births in 2000 compared to 167 births in 2015 – a 54% reduction in births over a 15-year period – the town is still growing at least if you believe in projections.
My thought process equates this rise in population to people moving into town with either older parents and / or school age children and of course new construction that is being planned in town must also be impacting the overall population. The graph below does not include the new development that is also being planned for Mountain View Boulevard which may not have been known at the time the graph was created.
There is no doubt if you have a daily commute you have noticed our town is growing. Which if you own, Basking Ridge real estate, is a good thing. The demand to be in town with our school system seems to be a driver in increasing home prices and will continue to be so for the next few years.
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