$3,741 Closing Credit*
$315,000
750 SqFt
1 Bed
•1 Full Bath
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 October 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
$807,500
$324/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$74,500(+10.2%)
Key Takeaway
Homes in Basking Ridge have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Basking Ridge was $807,500 in October 2024, up 10.2% from last year, and the median price per square foot was $324.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $292.5K | $319K | +9.1% |
| 2 Bedrooms | $406K | $485K | +19.5% |
| 3 Bedrooms | $670.5K | $760K | +13.3% |
| 4 Bedrooms | $985K | $1.2M | +21.8% |
| 5+ Bedrooms | $1.4M | $1.5M | +10.9% |
Summary: Basking Ridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes increased by 10.9%.
Median Sold Price Compared To Nearby Cities
| Warren Township | $1.0M | $1.1M | +14.0% |
| Long Hill Township | $630.5K | $718K | +13.9% |
| Basking Ridge | $733K | $807.5K | +10.2% |
| Bernards Township | $739.4K | $805.7K | +9.0% |
Housing Supply in Basking Ridge, NJ
How many homes are available in Basking Ridge, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 105 | 102 | -2.9% |
Summary: The Basking Ridge real estate market had 102 homes for sale in October 2024, a 2.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 25 | 24 | -4.0% |
| 3 Bedrooms | 28 | 27 | -3.6% |
| 4 Bedrooms | 31 | 25 | -19.4% |
| 5+ Bedrooms | 19 | 24 | +26.3% |
Summary: The Basking Ridge housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes decreased by 19.4%, and 5+ bedroom homes increased by 26.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 33 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Basking Ridge, you could pay more than the asking price. 75.8% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Basking Ridge in October 2024, the same as the previous month. Of the 33 sold homes, 18% were sold under asking, 6% were sold at asking, and 76% were sold over asking.
Days on Market for Basking Ridge, NJ
How long does it take to sell a home in Basking Ridge, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Basking Ridge are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 33 homes were sold in Basking Ridge; 3% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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