Seven sales in Basking Ridge since the first of November:
- 118 Conkling Street, list price: $359000, sale price: $275000
- 26 Cedar Street, list price: $797000, sale price: $768000
- 171 Jamestown Road, list price: $234000, sale price: $215000
- 128 Patriot Hill Drive, list price: $645000, sale price: $630000
- 67 Vanderveer Drive, list price: $1069900, sale price: $1060000
- 84 Highland Avenue, list price: $453800, sale price: $425000
- 75 Landau Road, list price: $814900, sale price $815000
Additional Basking Ridge market information:
Ten contract sales since the first of November: two condos, three townhouses and five single family homes. Price point ranges from $229,000 to $1,495,000 and average days on market for these ten listings was 49.5 days.
There are 168 active listings in Basking Ridge (search here for listing details). With 19 sales in the last thirty days, Basking Ridge market absorption rate is 8.8 months.
On the state level – The Garden State Rocks!
New Jersey Association of REALTORS® (NJAR®) Chief Executive Officer Jarrod C. Grasso today issued the following
statement:
“For the third quarter of 2011, New Jersey existing home sales outperformed sales in the northeast. The resiliency of Garden State infrastructure and industry, plus our location between the New York City and Philadelphia markets, places us in a strong position for employment and stability.
“Compared to New Jersey’s other metro areas, one particular bright spot that displayed a slight median home price increase from the third quarter of 2010 was Newark, N.J. With a revived commercial real estate market, this shows the correlation that improving accessibility to employment can help preserve property values.
“General economic concerns continue to affect consumer confidence, which is in turn affecting home sales. Tight lending restrictions are also keeping creditworthy buyers from capitalizing on the current opportunity to purchase a home. It is more important now than ever to recognize the benefit of working with a REALTOR®. Whether a first-time or repeat buyer, investor or a family exploring their options, it pays to work with a professional who is educated in local markets and specialized transactions, such as short sales and investment properties.”
Necessary Blog Housekeeping
Please take a moment to +1 this post! Use the little button up at the top. This will help Basking Ridge Real Estate make strides on the world wide web. Thank you.
