Closed Sales in March
There are now two new happy homeowners in March in Bedminster. The following properties have closed this month:
27 BENTLEY CT $289,999 $278,000
77 AUTUMN RIDGE RD $769,900 $745,000
26 new listings came on the market this month, and 9 listings have gone under contract. To see these new listings or to start your search, click on Bedminster Homes For Sale.
Please note: 2 additional properties sold in February but were not reported online until March. Those properties are:
147 CORTLAND LN $99,999 $99,999
15 WENTWORTH RD $259,999 $252,500
So that brings the total sold homes in Bedminster in February to 5.
I explained what the absorption rate is in a previous posting, but basically it is a way to help us determine how much market activity there is at a given time in the market. A market absorption rate of less than 5 months is considered a Seller's Market, between 5 - 6 months is a Normal or Balanced Market, and inventory levels greater than 6 months indicates a Buyer's Market.
There are currently a total of 95 listings on the market in Bedminster. 17 properties went under contract in the last 30 days, so that gives us a current market absorption rate of 5.6 months in Bedminster. Which indicates that currently the market in Bedminster is a balanced market.