I have been analyzing the Basking Ridge market for a listing appointment that my partner and I are going on this evening. Look what I found:
Market Absorption = Available Homes/UC Homes (last 30 days)
in a given town or price range
====================================================
As of today, there are 205 homes available in Basking Ridge
Since 07/31/2009, 40 homes have gone under contract
Township Market Absorption = 5.12 months
====================================================
There are 34 homes available between $600,000 and $800,000
Since 07/31/2009, 10 homes have gone under contract in that price range
Price Range Market Absorption = 3.4 months
Visit my Basking Ridge website for information on what has sold and what is still available in Basking Ridge or surrounding areas serviced by the Garden State MLS. I look forward to hearing from you!
