This week in Basking Ridge

Four closed sales in Basking Ridge this week

• 287 English Place, Society Hill condo, list price: $249,900, sale price: $236,500
• 79 Spencer Road, Single family home, list price: $549,000, sale price: $505,000
• 25 Marilyn Street, Single family home, list price $629,900, sale price: $577,000
• 189 W Oak Street, Single family home, list price $749,000, sale price: $715,000

Current inventory is 138 properties, absorption rate is 5.75 months.

Township residents received their notices of property tax assessment for 2011 at the end of January. Neither the multiple listing system or the Vital Services website have been updated yet so I am reaching out to some past customers for their numbers. Stay tuned for a blog post featuring some examples. Of the handful of people I have already spoken to 2011 assessments are higher than the 2010 assessments. Land assessments went down and building assessments when up. I am not sure if the townhouses are any different, once I have more data I will post it.