I’m getting very excited about my newest listing! It should be active in about two weeks – a few finishing touches before the photographer comes. The only thing I will share at this point are the stats for the price point:
Market absorption for single family homes between $1M and $1.2M is currently just under 2 months. That is unbelievable! There are only 7 properties listed in this price range – and there were 4 contract sales in July. I looked at June sales as well – there were 5.
Overall, Basking Ridge market absorption is going down…It currently sits at 3.52 months (over the last 3, 6 and 12 months it has been steadily falling….5.51 a year ago, 4.96 six months ago, 3.92 three months ago).
July sales should be posted on Basking Ridge Real Estate before the end of the month.
