Basking Ridge is doing really well during this summer market and an area you definitely want to keep an eye on ! With 265 new homes listed this quarter, the inventory increased by 88% since last summer ! The average sales price is up over 18% and the days on the market is down substantially by a 52% since Q2 2020.

The single family listings account for over 60% of the market in Basking Ridge with the rest being townhomes and condos. It has been much quicker to get these homes listed and under contract with the average days on market being just 29 days compared to the 72 last summer.

The townhome and condo inventory has almost tripled since that period too with 97 new listings. Although the average listing price for townhomes/condos is slightly down its more important where it is selling right ?? The average sales price has increased by 7% for these listings.

PICK OF THE QUARTER

The Destination NJ spotlight listing this quarter in Basking Ridge is 8 Stacy Ln, Bernards in Basking Ridge. This house features a magnificent kitchen with stunning granite countertops. The property has a modern flow with tons of great windows and natural light and also a half finished basement. Make sure to check out this listing and many more on the market in this area down below !