As we’ve discussed before, Market absorption is defined as the rate at which current inventory will be sold based on the number of buyers in the last thirty days. A normal market (favoring neither buyers nor sellers) is between 5 and 6 months. A buyers market is anything over 6 months of inventory and a sellers market is anything under 5 months of inventory.
Current rates as of the end of the week of 1/3/10: Basking Ridge is looking pretty good!
Basking Ridge 5.5 months
Bernardsville 16 months
Bedminster 11 months
Bridgewater 8.5 months
Long Hill 9.5 months
Harding 7.5 months
Warren 7.5 months
If you are considering a move into or out of Basking Ridge, please contact me for a buyer consultation or a market analysis of your current Basking Ridge home. Visit my Basking Ridge Real Estate site to search homes for sale – whether you are looking for a condo, a single family home or a luxury property. I’m happy to help!
