Closed Sales
There are now twelve new happy homeowners in January in Bedminster, as the following properties have closed: (Closed properties since last week are in bold)
8 WESCOTT RD $225000 $220000
10 WOOD DUCK POND RD $239000 $235000
40 RAY CT $249999 $245000
22 BENTLEY CT $249,999 $248,000
76 BENTLEY CT $269000 $265000
59 BENTLEY CT $299,900 $299,900
32 FIELDSTONE RD $324,900 $318,900
77 BENTLEY CT $339999 $330000
4 BRIGHTWOOD LN $468,000 $450,000
48 DEER HAVEN RD $479000 $445000
132 SOMERVILLE RD $629,000 $585,000
4 OLD FARM LANE $885000 $700000
And there are now 20 new listings, two which have come on the market since last week. To see these new listings or to start your search, click on Bedminster homes for sale .
Absorption Rates
The Market Absorption Rate helps to determine the type of market we are in given the current months supply of homes and how it affects you as a buyer or seller. Please keep in mind that inventory levels (supply of homes) does not predict how long it will take to sell a given home. They just help us determine how much market activity there is in a given market at a given price point and allow us to plan accordingly when marketing a home for sale.
Inventory levels less than 5 months indicate a Seller's Market. Conversely, inventory levels greater than 6 months indicate a Buyer's Market. When inventory levels are between 5 - 6 months, this is considered a Normal Market or Balanced Market.
There are currently 72 active listings in Bedminster and there were 10 sales in the last 30 days which is a market absorption rate of 7.2 for all of Bedminster, which as I mentioned above indicates that Bedminster as a whole is currently in a Buyers Market. I thought I would go one step further and break it down by type of housing and then by price point:
Condos/Townhouses/Duplex: 50 available, 9 sold in the last 30 days = inventory of 5.5 months
Single Family Homes: 22 available, 1 sold in the last 30 days = inventory of 22 months
Under $500,000: 52 available, 9 sold in the last 30 days = inventory of 5.8 months
$500,000 - $799,999: 5 Available, no sales in the last 30 days
$800,000 - $999,999: 5 available, 1 sale in the last 30 days = inventory of 5 months
$1,000,000 - $1,999,999: 3 available, no sales in last 30 days
$2,000,000 and over: 7 available, no sales in last 30 days
If you are considering a move into or out of Bedminster, it pays to plan ahead. Start here to search for homes for sale in Bedminster, or here to understand the value of your current home. We focus on Bedminster, but we are well prepared to discuss other areas as well: Basking Ridge, Bernardsville, Berkeley Heights and New Providence -- most of Somerset and Union counties as well as parts of Hunterdon and Morris
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