Archive for February, 2011

Closed Sales in February

There are now three new happy homeowners in February in Bedminster.   The following properties have closed this month:

5 SAGE CT  $175,000  $175,000
5 BENTLEY CT $309,000    $309,000
335 ENCLAVE LN    $384,000    $372,000

Twenty-five new listings came on the market this month, and 14 listings have gone under contract.  To see these new listings or to start your search, click on Bedminster Homes For Sale.

Absorption Rate

I explained what the absorption rate is in my last 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 81 listings on the market in Bedminster.  14 properties went under contract in the last 30 days, so that gives us a current market absorption rate of 5.8 months in Bedminster.  Which indicates that currently the market in Bedminster is a balanced market.

If you are considering a move into or out of Bedminster, it pays to plan ahead.  Start your search or understand the value of your home at Bedminster-Real-Estate.com

Closed Sales in February

Since my last posting, there are now two new happy homeowners in February in Bedminster.   The following properties have closed this month:

5 BENTLEY CT $309,000    $309,000
335 ENCLAVE LN    $384,000    $372,000

Eleven new listings came on the market this month, and 1 of those listings has already gone under contract.  To see these new listings or to start your search, click on Bedminster Homes For Sale.

Absorption Rate

I explained what the absorption rate is in my last 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 74 listings on the market in Bedminster.  Eleven properties went under contract in the last 30 days, so that gives us a current market absorption rate of 6.7 months in Bedminster.  Which indicates that currently the market in Bedminster is a buyer’s market

If you are considering a move into or out of Bedminster, it pays to plan ahead.  Start your search or understand the value of your home at Bedminster-Real-Estate.com

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)

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

So when I breakdown the area by style of housing and price point you can see that although Bedminster as a whole is considered to be in a Buyer’s Market, “Condos/Townhouses/Duplexes” and housing in the price point of  “Under $500,000″ is considered to be a Normal Market.  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!