Is Basking Ridge, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$800,000
$317/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Basking Ridge have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Basking Ridge was $800,000 in April 2024, up 10.3% from last year, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282K | $309K | +9.6% |
| 2 Bedrooms | $360K | $446K | +23.9% |
| 3 Bedrooms | $656K | $725K | +10.5% |
| 4 Bedrooms | $937K | $1.1M | +24.3% |
| 5+ Bedrooms | $1.2M | $1.4M | +10.5% |
Summary: Basking Ridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes increased by 23.9%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Warren Township | $950K | $1.0M | +13.2% |
| Basking Ridge | $725.4K | $800K | +10.3% |
| Long Hill Township | $623.5K | $685.4K | +9.9% |
| Bernards Township | $735.9K | $807K | +9.7% |
| Millington | $666K | $725K | +8.9% |
Housing Supply in Basking Ridge, NJ
How many homes are available in Basking Ridge, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 105 | +43.8% |
Summary: The Basking Ridge real estate market had 105 homes for sale in April 2024, a 43.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 4 | +300.0% |
| 2 Bedrooms | 22 | 27 | +22.7% |
| 3 Bedrooms | 12 | 19 | +58.3% |
| 4 Bedrooms | 20 | 29 | +45.0% |
| 5+ Bedrooms | 18 | 26 | +44.4% |
Summary: The Basking Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 22.7%, 3 bedroom homes increased by 58.3%, 4 bedroom homes increased by 45%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 26 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Basking Ridge, you could pay more than the asking price. 80.8% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Basking Ridge in April 2024, up by 100.0% month-over-month. Of the 26 sold homes, 15% were sold under asking, 4% were sold at asking, and 81% 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
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement. 
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.