Posts Tagged ‘Bedminster Market Activity’

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!

Since my last Market Update last week, there haven’t been any properties that have gone under contract.  So that leaves the five properties went under contract last week in Bedminster, which are:  four townhouses listed for $299,900, $309,000, $345,000 and $420,000, and a duplex listed for $384,000.

There are now 9 new happy homeowners this month in Bedminster, as the following properties have closed:
(Closed properties since last week are in bold)

And there are now 18 new listings, five which have come on the market since last week.

Start your search on Bedminster homes for sale so you can take advantage of the currently low interest rates!

Five properties have gone under contract in Bedminster so far this month: four townhouses listed for $299,900, $309,000, $345,000 and $420,000, and a duplex listed for $384,000.

There are 7 new happy homeowners so far this month, as the following properties closed:

And there are thirteen new listings.  Start your search for Bedminster homes for sale so you can take advantage of the currently low interest rates!

5 closings since 10/1/2010:

• 47 Heatherwood Lane
• 2 Bedminster Terrace
• 58 Encampment Drive
• 45 Stevens Court
• 70 Wentworth Road

There are 85 active listings, there were 13 contract sales – making the market absorption (or inventory level) about 6.5 months; this is a relatively normal market in Bedminster, NJ.  If you are considering a move, now might be the time!  Interest rates are still outrageously low and there is alot to choose from! Contact me directly and we can talk through the details of purchasing – or selling – your home!

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.

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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!

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!

There hasn’t been much going on in Bedminster, NJ this month.  Three properties have reduced their list prices since December 1st.  I am pretty confident that there are some good deals out there!

Please contact me if you would like more information about any of these Bedminster homes or visit my Bedminster real estate site for more information on what has sold by month over the past year.