Market Minute . . . Basking Ridge & Bernardsville 3/28/2010

Consistency is the word for the weekly trend in Basking Ridge with the market almost perfectly replicating last week. Basking Ridge saw 19 new listings hit the market this week with a total of 9 home listings going under contract during that same time-frame. Bernardsville had a slightly better week than last in terms of the new inventory to under contract ratios; with 4 new listings coming on the market and 1 going under contract. Though a bit punchy in spots, the market feels solid and well into its typical "spring swing." The $1.1M end of Basking Ridge almost couldn't be hotter. For 7 weeks, most of the well conditioned homes in that price position (that should be in that price point!) have seen multiple offers almost immediately. With only a few more weeks for folks to take advantage of the home buyer tax credit, we should see even more great market activity ahead!