$8,312 Closing Credit*
$699,999
3 Beds
•2 Full Baths
Listing Office: WEICHERT REALTORS
Is Basking Ridge, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Basking Ridge has remained a Seller's Market.
Key Takeaway
Basking Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Basking Ridge, NJ
How much do homes in Basking Ridge, NJ cost?
Median Sold Price
$817,666
$385/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$64,333(+8.5%)
Key Takeaway
Homes in Basking Ridge have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Basking Ridge was $817,666 in November 2024, up 8.5% from last year, and the median price per square foot was $385.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $322.5K | +11.2% |
| 2 Bedrooms | $414K | $485K | +17.1% |
| 3 Bedrooms | $685K | $759.5K | +10.9% |
| 4 Bedrooms | $999.4K | $1.1M | +16.2% |
| 5+ Bedrooms | $1.4M | $1.5M | +8.4% |
Summary: Basking Ridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Cities
| Long Hill Township | $650K | $755K | +16.2% |
| Warren Township | $1.0M | $1.1M | +10.6% |
| Basking Ridge | $753.3K | $817.6K | +8.5% |
| Bernards Township | $768.7K | $817.5K | +6.3% |
Housing Supply in Basking Ridge, NJ
How many homes are available in Basking Ridge, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 99 | 82 | -17.2% |
Summary: The Basking Ridge real estate market had 82 homes for sale in November 2024, a 17.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 24 | 27 | +12.5% |
| 3 Bedrooms | 27 | 16 | -40.7% |
| 4 Bedrooms | 22 | 16 | -27.3% |
| 5+ Bedrooms | 23 | 20 | -13.0% |
Summary: The Basking Ridge housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 40.7%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 13%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 21 | -41.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Basking Ridge, you could pay more than the asking price. 76.2% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Basking Ridge in November 2024, down by 41.7% month-over-month. Of the 21 sold homes, 19% were sold under asking, 5% were sold at asking, and 76% were sold over asking.
Days on Market for Basking Ridge, NJ
We’re sorry, we don't have information for this market at the moment
