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Real Estate Market Update for Society Hill Bernards I and II- Basking Ridge, NJ - May 2010

By
Real Estate Agent with Weichert, Realtors®, Basking Ridge, NJ

Here is the recent real estate activity in Society Hill, Basking Ridge, NJ as of 5/25/10:

Currently there are 15 PROPERTIES FOR SALE in the development:

9 - 2 bedroom 2 bath condominiums ranging in price from $242,000 - $279,900

2 - 2 bedroom 2 ½ bath townhomes  (1 model 250 and 1 model 300) priced at $320,000 and $325,000

4- 3 bedroom 2 ½ bath townhomes (2 model 350 and 1 model 600) priced from $319,000-$335,000)

Currently there are 5 PROPERTIES UNDER CONTRACT:

1 - 2 bedroom 2 bath condominium priced at $265,000

1 - 2 bedroom 2 ½ bath townhomes (model 350) priced at $310,000

2 - 3 bedroom 2 ½ bath townhomes  (1 model 250 and 1 model 600) priced at $319,900 and $344,900

ONLY 2 PROPERTIES HAVE GONE UNDER CONTRACT IN THE LAST 30 DAYS which means it will take approximately 7.5 MONTHS to sell off the current inventory.

Currently 12 PROPERTIES HAVE SOLD since January 1, 2010 -

                                               Asking Price             Selling Price         

2 Bedroom 2 bath condo

$239,000

                     

$239,000

2 Bedroom 2 bath condo

$245,000

                     

$240,000

2 Bedroom 2 bath condo

$249,900

                     

$245,000

2 Bedroom 2 bath condo

$259,000

                     

$247,000

2 Bedroom 2 bath condo

$259,500

                     

$253,000

2 Bedroom 2 bath condo

$265,000

                     

$250,500

2 Bedroom 21/2 bath TH 250

$299,975

                     

$290,000

2 Bedroom 21/2 bath TH 300

$299,000

                     

$290,000

3 Bedroom 21/2 bath TH 350

$315,000

                     

$299,999

2 Bedroom 21/2 bath TH 250

$320,000

                     

$309,000

2 Bedroom 21/2 bath TH 300

$325,000

                     

$312,500

3 Bedroom 21/2 bath TH 600

$334,900

                     

$320,000

 

 Rental Market:

Currently there are 5 Properties for rent:

3 - 2 bedroom 2 bath condominiums - rental price from $1650 to $1795/month

2 - 2 bedroom 2 ½ bath townhomes - (model 250 and 300) - rental price $1800 and $2000

Since 1/1/2010 - 5 PROPERTIES HAVE RENTED:

2 - 2 bedroom 2 bath condominiums both rented for $1650

3 - 2 bedroom 2 ½ bath towhomes (all model 250) rented from $1600 to $1800

 

If you would like any more in formation about the market activity in Society Hill, Basking Ridge, NJ, please do not hesitate to call me!