Contract Sales and Price Adjustments:
Sixteen contract sales since February 1st – the buyers are out there! And, one of those sales was of a property that wasn’t even listed for ten days – price it right and it will sell! Ten sellers adjusted their list price – of those ten, two sold just after the price change. At least one of those entertained multiple offers. Price it right and it will sell!
Eleven closed sales:
154 Alexandria Way $227,500*
186 Potomac Drive $253,000
60 Smithfield Court $255,000
30 Village Drive $330,000
10 Cannon Court $475,000
15 Battalion Drive $500,00
27 Crest Drive $657,500
180 Smoke Rise Road $661,000*
23 Princeton Court $703,000
21 Beacon Crest Drive $1,040,000
17 Cedar Creek Drive $1,220,000
Properties with an * were sold by ME! And I have another Basking Ridge closing tomorrow afternoon.
New Listings:
I can’t post address for properties that aren’t listed by me until they are sold. But I can tell you that there are 26 new listings in Basking Ridge. Fourteen of them are colonials, one bi-level, a split level, an expanded ranch the rest are townhouses and condos. One of the townhouses is entertaining multiple offers, one of the colonials is negotiating a contract and another of the single family homes is already under contract. The Spring Market is HERE for sure!
Basking Ridge Market absorption is at 5.6 months – a nicely balanced market (though still favoring buyers). There are 135 properties available and 24 have sold in the last 30 days.
Sneak Peak – I am working on three listings that should be ready by the end of March. Two colonials in Basking Ridge and one in the northwest section of Bridgewater.
