The following home sales closed this past week:
159 Jamestown Road, Spring Ridge, 2 beds, 2 baths, listed at $263,000, sold for $245,000
307 Penns Way, Society Hill, 3 beds, 2.1 baths, listed at $325,000, sold for $310,000
75 Aspen Drive, The Ridge, 3 beds, 3 baths, listed at $429,999, sold for $405,000
6 Chelsea Court, 4 beds, 4.1 baths, custom colonial, listed at $1,575,000, sold for $1,320,000
There were four new listings this week – one townhouse in The Ridge listed for $344,900 and three colonials listed between $1,100,000 and $1,900,000.
There were seven contract sales (who says things are slow?) – three townhouses, one condo, two colonials and one ranch, listed between $244,900 and $999,000.
Market absorption in Basking Ridge has fallen below 6 months – there were 27 contract sales in the past thirty days and there are currently 156 available properties. I do expect the market to slow considerably between Thanksgiving and the winter holidays – but I also think that low interest rates will continue to fuel sales through the end of the year.
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