Market Activity
As I had predicted we are seeing an increase in new listings – finally, given that the weather has been better! There have been 20 new listings here in Basking Ridge since April 1st and five contract sales in the same time period. Absorption rate – an indicator of market activity – has fallen under 4 months to 3.8 months of inventory (179 total listings and 47 contract sales in the last 30 days. Basking Ridge is inching into a seller’s market! But – given buyer activity and conversations I am still having with buyers and sellers, it’s the odd transaction here in town where the seller has the upper hand.
This week’s open houses
My listings being held open on Sunday, 4/10 between 1:00 and 5:00:
384 Penns Way, Basking Ridge
Dani will be there from 1:00-5:00
This is a 250 model – two bedrooms and two and a half baths. It is a short sale, so you must have a little patience – but there is a potential for a great deal!
100 Old Army Road, Bernardsville
Gabby will be there between 1:00 and 4:00
This 1955 colonial has a traditional floorplan, an updated kitchen and an au pair suite!
For more information on the market in Basking Ridge, visit Basking Ridge Real Estate today!
