Basking Ridge Real Estate update

New listings coming soon

I am so excited to present my two newest listings!  On June 1st, I will list 258 Alexandria Way, a greenbriar model in Spring Ridge - this is a duplex with a first floor master.  The current owner has replaced many windows, installed maple hardwood floors, new wool carpet upstairs.  The ran a gas line to the kitchen so the new Bosch range/oven is gas; the diswasher was also recently replaced with a Bosch.  Topping this all off is a beautifully renovated main bath!  List price is $475,000 - a great value considering the prices of our competition are $489,000!  Come visit the open house on Sunday, 6/5.

My other new listing is still a secret, but I can tell you it's a great ranch - one floor living with a finshed lower level and an updated kitchen.  A wonderful deck overlooking a beautiful pool; nestled on three acres in the northwestern section of town.  I sold this house six years ago and it remains one of my favorite properties in town!  Own your own piece of paradise!

Market Absorption

With 221 active listings in town and 41 sales in the last thirty days, the Basking Ridge market is at 5.4 months of inventory.  14 of those sales were under $500,000, 10 were between $500,000 and $700,000, 13 were between $700,000 and $1,000,000 and four were over $1,000,000.  There were no sales over $2,000,000.

Current Inventory

• 32 properties under $300,000
• 27 between $300,000 and $400,000
• 26 between $400,000 and $500,000 (with six at $499,000)
• 22 between $500,000 and $600,000
• 17 between $600,000 and $700,000
• 15 between $700,000 and $800,000
• 19 between $800,000 and $900,000
• 5 between $900,000 and $1,000,000
• 38 between $1,000,000 and $2,000,000
• 6 between $2,000,000 and $3,000,000
• 5 over $2,000,000
• 87 of the active listings are townhouses or condos (search here)
• 134 of the active listings are single family homes (search here)

There are eight properties that are under contract with contingencies.  I am seeing more and more contracts with home sale contingencies; it is no longer unheard of.  There are ways to do that while protecting the best interests of both the buyer and the seller.  Feel free to call me for more information about that; I'm happy to help!

Have a wonderful Memorial Day weekend!