REAL-TIME MARKET NUMBERS

Basking Ridge, NJ 07920

Condos/Townhomes

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Basking Ridge, NJ 07920

Sat Oct 19 2024
This week the median list price for Basking Ridge, NJ 07920 is $502,500 with the market action index hovering around 72. This is less than last month's market action index of 79. Inventory has decreased to 8. Click here to stay informed with the Basking Ridge market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Basking Ridge, NJ 07920

Sat Oct 19 2024
This week the median list price for Basking Ridge, NJ 07920 is $502,500 with the market action index hovering around 72. This is less than last month's market action index of 79. Inventory has decreased to 8. Click here to stay informed with the Basking Ridge market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Real-Time Market Profile

Never miss important changes in the Basking Ridge market.
Median List Price $502,500
Median Price of New Listings $540,000
Per Square Foot $380
Average Days on Market 35
Median Days on Market 14
Price Decreased 13%
Price Increased 0%
Relisted 0%
Inventory 8
Median Rent
Market Action 72
Strong Seller's Market

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$784,450 1,928 0 - 4,500 sqft 3 2.5 26 0 0 108
$634,950 0 - 2 3 30 1 0 0
$432,500 0 - 2 2 35 0 0 14
$384,000 0 - 2 2 38 0 0 17