Market absorption is defined as the rate at which current inventory will be sold based on the number of buyers in the last thirty days. A normal market (favoring neither buyers nor sellers) is between 5 and 6 months. A buyers market is anything over 6 months of inventory and a sellers market is anything under 5 months of inventory.
Current rates as of the end of the week of 1/3/10:
Basking Ridge 5.5 months
Bernardsville 16 months
Bedminster 11 months
Bridgewater 8.5 months
Long Hill 9.5 months
Harding 7.5 months
Warren 7.5 months
If you are considering a move into or out of Somerset County, please contact me for a buyer consultation or a market analysis of your current home. Visit my Bedminster Real Estate site or my Basking Ridge Real Estate site to search homes for sale - whether you are looking for a condo, a single family home or a luxury property. I'm happy to help!
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