I am working with first time home buyers who are considering making an offer on a townhouse in Society Hill, Basking Ridge. So I spent this evening working on a market analysis to determine if the list price on the unit they like is within the boundaries of reality. The unit has been on the market for quite some time and is not in the best condition. The agent shared with me the seller’s bottom line. Knowing that certainly helped – and I actually think that their bottom line reflects a nice deal, even with the elbow grease that the unit needs.
I had to go back beyond 12 months to find another sale to compare to the large three bedroom unit that is on the market on Baldwin Court; but for the two bedroom units there was a lot to go by – that seems to be the most popular model recently. Most likely because they account for a larger percentage of the types of units and since they are small, the turn over more frequently. Interestingly enough – there have been three sales in the last 30 days of the two bedroom model – that leaves only my listing and one other still available, could my clients be the next lucky sellers?
I thought I would share the Society Hill Market Analysis that I put together – please let me know if you have any questions. I am happy to send you information about other properties available here in town, or click here to search available town houses in Basking Ridge. (Please forgive my spacing issues – my webmaster is on vacation!!)
|
Sts |
Address |
Bed |
Style |
List Date |
LP/SP |
DOM |
UC Date |
|
|
A |
261 |
PENNS WAY |
3 |
Interior/back kitchen |
7/29/2009 |
$325,000 |
6 |
|
|
A |
6 |
BALDWIN CT* |
3 |
Interior/sunroom |
4/1/2009 |
$344,900 |
125 |
|
|
A |
406 |
Penns Way |
3 |
Interior/sunroom |
3/23/2009 |
$365,900 |
134 |
|
|
A |
309 |
ENGLISH PL |
2 |
Interior |
7/6/2009 |
$289,000 |
29 |
|
|
A |
287 |
PENNS WAY* |
2 |
End Unit |
9/18/2008 |
$298,900 |
320 |
|
|
A |
37 |
WOODWARD LN* |
2 |
Interior |
7/6/2009 |
$304,900 |
29 |
|
|
|
|
|
|
|
|
|
|
|
|
UC |
191 |
IRVING PL* |
2 |
End Unit |
5/2/2009 |
$305,000 |
93 |
8/3/2009 |
|
UC |
430 |
PENNS WAY |
2 |
Interior |
4/25/2009 |
$290,000 |
76 |
7/10/2009 |
|
UC |
286 |
PENNS WAY* |
2 |
Interior |
5/7/2009 |
$299,900 |
81 |
7/27/2009 |
|
UC |
269 |
Penns Way |
2 |
Interior |
5/13/2009 |
$295,000 |
36 |
6/18/2009 |
|
|
|
|
|
|
|
|
|
|
|
S |
444 |
Penns Way |
3 |
Interior |
2/9/2009 |
$340,000 |
87 |
5/7/2009 |
|
S |
192 |
IRVING PL* |
2 |
Interior |
3/15/2009 |
$285,000 |
23 |
4/7/2009 |
|
S |
195 |
Irving Place |
2 |
Interior |
2/27/2009 |
$280,000 |
18 |
3/17/2009 |
|
S |
355 |
PENNS WAY* |
2 |
Interior |
2/3/2009 |
$242,000 |
31 |
3/6/2009 |
|
S |
62 |
Woodward Lane |
2 |
Interior |
6/14/2008 |
$270,000 |
249 |
2/18/2009 |
|
S |
392 |
PENNS WAY* |
2 |
Interior/sunroom |
7/21/2008 |
$300,000 |
184 |
1/21/2009 |
|
S |
64 |
WOODWARD LN* |
2 |
End Unit/sunroom |
7/28/2008 |
$330,000 |
22 |
8/19/2008 |
|
S |
295 |
PENNS WAY* |
2 |
End Unit |
6/5/2008 |
$300,000 |
42 |
7/17/2008 |
|
S |
158 |
WOODWARD LN* |
2 |
Interior |
3/6/2008 |
$275,000 |
127 |
7/11/2008 |
Remember, these units make great first homes! Take advantage of the first time home buyer credit if you qualify – time runs out at the end of November!
