There have been fourteen contract sales in Basking Ridge since 9/1/11 – at prices across the range from $200,000 up to $1,300,000. Of the 178 properties showing available, eight are starred as being in attorney review and I know that there are at least two others with offers being negotiated. I am working multiple offers on one of my listings, just received an offer on another one and I am expecting an offer on a third before the end of the week. Despite this activity, the absorption rate here in town has crept up significantly – reaching almost 12 months. That is CrAzY – and I think it is a false high as I am aware of several properties that are under contract that are not accurately reported in the MLS. This is being done to protect sellers in a buyers market full of uncertainty when it comes to things like appraisals and re-negotiations after inspections.
Obviously though, people are still buying homes in Basking Ridge – there have been 22 closings since September 1st:
85 Manor Drive, sale price: $975,000
22 Royal Oak Drive, sale price: $1,480,000
23 Mayflower Drive, sale price: $490,000
37 Emily Road, sale price: $1,750,000
19 Hancock Court, sale price: $499,000
222 Patriot Hill Drive, sale price: $615,000
21 Sentry Court, sale price: $1,232,500
128 Constitution Way, sale price: $468,000
35 Old Farm Road, sale price: $1,215,000
22 Dexter Drive North, sale price: $537,500
12 Van Dorn Road, sale price: $650,000
78 Carlisle Road, sale price: $610,000
55 Kinnan Way, sale price: $865,000
1 Potomac Drive, sale price: $210,000
184 Spencer Road, sale price: $475,000
257 Penns Way, sale price: $275,000
72 Liberty Ridge Road, sale price: $712,000
23 Ramapo Drive, sale price: $1,042,000
26 Hickory Drive, sale price: $855,000
18 Hadley Court, sale price: $660,000
142 Irving Place, sale price: $225,000
21 Knollcroft Road, sale price: $474,900
Great houses when listed at great prices will absolutely sell. And – in my opinion – every house is a great house! Seriously, there is a buyer out there for every house. You just need an experienced agent to help you market the property, find the buyer and navigate the rough waters of the current market! As these 22 new Basking Ridge homeowners can attest: it can be done!
Helpful Links
Get a free Market Analysis of your Basking Ridge Home
Search New Basking Ridge Single Family Home Listings
Search New Basking Ridge Condo and Townhouse Listings
Review what has sold in Basking Ridge – broken out by month
Sign up for email alerts – Basking Ridge Homes for Sale
