Basking Ridge Real Estate - Absorption Rates

Updating your Basking Ridge Real Estate Market. Many areas of the market are showing signs of improvement, most notably the $1M - $1.5M market. Peaking at an absorption rate of 75 months in February, it currently stands at 7 months falling from 26 in May. Another strong price point is the $800k - $1M currently standing with a 4 month rate of absorption down from 8 months in May. Over the last 3 months, 21 units have went under contract in this price point. This is a great indication that the market as a whole is recovering, and not just the lower price points. Real Estate is a trickle up market, and we are starting to see the drops going up. To see all price points, click on the chart to the right.

For more information, contact "The Norrod Team."


Absorption Rate is the time it would take for all of the homes within that particular parameter to sell provided they continued selling at the current pace (as defined by time period specified) and no new inventory were to added to that market range.