Archive for the ‘Bedminster Market Activity’ Category

There were 21 contract sales in Bedminster during the month of July. This is UP from June when only 14 sales were recorded. This seems to contradict the sentiment that the expiration of the tax credit woud lead to a dip in sales activity.

There were 12 closings in Bedminster this past month:

70 Willow Drive, $720,000/$650,000
33 Spruce Court, $239,000/$235,000
27 Stafforoad Court, $779,000/$730,000
41 Teal Lane, $469,000/$450,735
26 Academy Court, $254,999/$250,000
16 Pheasant Brook Court, $349,900/$332,000
83 Cortland Lane, $99,999/$100,000
19 Ashley Court, $312,000/$318,000
28 Teal Lane, $460,000/$450,000
61 Edgewood Road, $449,000/$435,000
81 Autumn Ridge Road, $715,000/$690,000
12 Lockhaven Court, $499,999/$505,000

If you are consdering a move into or out of Bedminster, try searching for available properties: luxury homes or townhouses and condos or sign up for listing notifications as properties are listed.  Contact me directly for any other questions related to real estate in and around our area in beautiful Somerset County, NJ.

25 Bedminster Terrace $569,000/$543,000
2 Drummers Log Ln $579,900/$545,000
36 High Pond Ln $326,000/$322,500
18 Wood Duck Pond Rd $349,000/$340,000
49 Encampment Dr $304,800/$295,000
12 Knollcrest Rd $489,900/$480,000
89 Ashley Ct $269,000/$265,000
53 Eton Ct $379,900/$370,000
68 Academy Ct $259,999/$271,000
42 Birchwood Rd  $319,900/$319,900
27 Crossfield Ct $329,000/$315,000
110 Westview Ln $399,999/$400,000
29 Tansy Ct $202,000/$198,500
43 Sage Ct $204,000/$200,000
9 Quincy Ct $360,000/$340,000
6 Heatherwood Ln $389,000/$374,000
66 Pheasant Brook Ct $290,565/$290,000
70 N Edgewood Rd $434,900/$415,000
1102 Timberbrooke Dr $389,990/$378,000
69 Birchwood Rd $319,000/$319,000

I must apologize for being away for so long – it’s been very busy in my little real estate world!  I’ve ben dealing with mulitple offers on several of my listings (something we hadn’t anticipated), an appraisal issue for a property which is the subject of a contingency on one of my deals that was under contract, and working with a couple who needed to make a decision about a competing offer on a property that they were hoping to purchase.  I am happy to report that the buyers with the appraisal issue selected another lender and were able to close their deal, two of the sellers looking at multiple offers selected one – one is under contract and the other will be signed today, and the buyers faced with competition for the home of their dreams made a decision and have already completed their home inspection!  I will admit that after all that hard work, it feels good to have a few closings on the horizon!

So, how are things going in Bedminster?  Market Absorption is at a healthy 6.9 months; a somewhat balanced market that is still favoring buyers to some degree.  I am anticipating a bit of a jump in contract sales due to the impending expiration of the tax credit on April 30th.  If you are considering a move – whether you are a buyer or a seller – now is the time to do it!  Stay one step ahead of the game by registering for listing alerts – be notified of new Bedminster listings within 24 hours of availability.  I can also provide you with a current market analysis for your Bedminster home.  If you just want to browse the inventory – you can do that too: Luxury homes, Single Family Homes, Townshouses and Condos.

Take a quick look at what has sold since I last reported (2/22/10):

30 Tansy Court List: $240,000  Sale: $235,000 Mayfield Condo
64 Foxwood Court  List: $279,999  Sale: $277,500  Fieldstone Condo
41 Pine Court  List: $289,900  Sale: $270,000  Pinevale Condo
102 Stone Run Road  List: $415,000  Sale: $414,000 Stone Run Townhouse

Have a great day!

There has been some decent activity in Bedminster over the last ten days. There were 13 new listings and four contract sales, and the following properties closed:

17 Cedar Court, listed at $268,500, closed for $250,000
138 Autumn Ridge Road, listed at $652,000 closed for $640,000

There are 79 properties available in Bedminster, four of them are working through attorney review.  Market absorption is 6 months.   I have seen such a huge increase in market activity over the last few weeks – if you are considering a move, it might be the best time to put your home on the market.  Interest rates are supposed to go up at the end of March, possibly by a point or more and the tax credit is only available through the end of April. While you might not qualify for the credit, your potential buyer might.  If you can try to leverage this window of opportunity!

Contact me for more information on the market in general or any of these properties in particular.

Become a fan of Bedminster Real Estate on facebook or follow me on twitter.

There were seven contract sales since 2/1/2010.

There are currently 73 properties available in Bedminster, ranging from $199,900 to $9,500,000.  For an appointment to review the market – as a buyer or a seller – contact me directly and I am happy to review your real estate needs.

Market absorption in Bedminster is only 5.2 months!  This is good news for Bedminster sellers – it seems that buyer activity is starting to increase after a slow start to the year.  Visit my website for a market analysis of your Bedminster property – maybe it is time to put it on the market!

Don’t forget to follow me on Twitter or find me on Facebook!

The real estate market continues to show improvement as mortgage rates remain at historic lows and consumers respond to the tax credits for first-time and repeat buyers. In fact, the National Association of Realtors (NAR) just announced that its Pending Home Sales Index rose 1 percent from November.

A forward-looking indicator based on contracts signed in December, the index is now 10 percent above December 2008. What’s more, December activity was the fifth highest monthly tally in two years. A sale is listed as pending when the contract has been signed but the transaction has not yet closed. Because sales usually are finalized within one or two months of signing the contract, this improvement should result in higher home sales in the coming months.

According to Lawrence Yun, NAR chief economist, existing home sales are projected to rise to around 5.6 million in 2010, an 8.5 percent increase over 2009. As sales rise and inventory levels decline, housing wealth for many middle class families will stabilize.

There were 8 new listings in town this past week: two condos listed between $209,000 and $259,000; three town houses listed between $333,000 and $540,000 and three luxury properties priced from $3,950,000.  There was only one contract sale and there was one closing.

58 Birchwood Drive – a town house – closed for $250,000 after being listed 52 days; original list price was $259,000.

Market Absorption in Bedminster is currently 7.5 months; there are 75 available properties and there have been 10 contract sales in the last 30 days.  It is still a buyer’s market in Bedminster.  To get started on your home search please visit my website to search homes for sale in Bedminster.

I just spent a few minutes downloading closed sales information for my Bedminster Real Estate website.  It didn’t take very long – there were only TWO sales in Bedminster during the month of January.  Market Absorption in Bedminster is surprisingly high – at the end of last year, it was hovering between 3 and 5 months, during any other economic time period that would have been considered a clear seller’s market!  However, given the nature of today’s economy and recent housing “slump”, even though the inventory numbers were low, buyers still had the advantage.  All month, Bedminster’s market absorption has been climbing – wrapping up at 8 months!  There are currently 72 listings and there were only 9 sales in the last 30 days.  There were 23 new listings this month and I expect that there will be at least that many each month through the end of April.  Hopefully for seller’s buyer activity will pick up – my recommendation if you are planning to buy in Bedminster is to do so NOW.  While there is lots of inventory, and few buyers and while there is still time to qualify for one of the tax credits!

Get ahead of the game, visit my website to learn about homes for sale in Bedminster, NJ: from condos to luxury properties.  I honestly believe that it’s a great time to get a great deal in Bedminster!

5 properties went under contract this past week:

One condo in the Mayfield section, two in the Pinevale section, one in Edgewood and one in Stone Run.

There were nine new listings between $279,000 and $2,200,000.  For more information on these properties, click here and I will send you MLS detail sheets for your price range.

If you are considering a move into our out of Bedminster, NJ, please contact me directly.  I can provide you with the information you need to make the best possible decision for all of your real estate needs – especially in Bedminster or Basking Ridge, NJ!

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 Bedminster, please contact me for a buyer consultation or a market analysis of your current Bedminster home.  Visit my Bedminster 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!