Basking Ridge Housing Market Report May 2025•Somerset County, New Jersey

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Housing Prices in Basking Ridge, NJ

How much do homes in Basking Ridge, NJ cost?

Housing Market Conditions

Is Basking Ridge, NJ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Basking Ridge is a Neutral Market

Difference Since May 2024

At the same time last year, Basking Ridge was a Seller's Market.

Insight

Basking Ridge is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$825,000$416/SqFt
+$40,000
+5.1%

Based on all homes sold in the last 12 months

Insight

Homes in Basking Ridge have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in Basking Ridge was $825,000 in May 2025, up 5.1% from last year, and the median price per square foot was $416.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Millington
+16.3%
Long Hill Township
+8.2%
Bernards Township
+7.2%
Warren Township
+6.6%
Basking Ridge
+5.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMay 2024May 2025Change YoY
1$309K$355K
+14.9%
2$452.5K$480K
+6.1%
3$737.7K$780K
+5.7%
4$1.1M$1.1M
-0.4%
5$1.4M$1.5M
+8.4%

Summary: Basking Ridge housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes increased by +14.9%. The home price for 2 bedroom homes increased by +6.1%. The home price for 3 bedroom homes increased by +5.7%. The home price for 4 bedroom homes decreased by -0.4%. The home price for 5 bedroom homes increased by +8.4%.

How does Basking Ridge, NJ compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Basking Ridge, NJ

Housing supply in Basking Ridge, NJ

How many homes are available in Basking Ridge, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
127Last MonthMay 2025
1072 months agoApr 2025
+18.7 %
Change MoMApr – May

Summary: The Basking Ridge real estate market had 127 homes for sale in May 2025, a 18.7 % increase compared to Apr 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
21Last MonthMay 2025
242 months agoApr 2025
-12.5 %
Change MoMApr – May

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsApr 2025May 2025Change MoM
1107
-30.0%
22530
+20.0%
32023
+15.0%
42736
+33.3%
52531
+24.0%

Summary: Basking Ridge housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -30.0%. The inventory for 2 bedroom homes increased by +20.0%. The inventory for 3 bedroom homes increased by +15.0%. The inventory for 4 bedroom homes increased by +33.3%. The inventory for 5 bedroom homes increased by +24.0%.

Asking Price vs. Sold Price

How much do homes in Basking Ridge, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price18 Homes

At Asking Price0 Home

Under Asking Price3 Homes

Insight

If you're buying a home in Basking Ridge, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in Basking Ridge in May 2025, down by 12.5% month-over-month. Of the 21 sold homes, 14% were sold under asking, 0% were sold at asking, and and 86% were sold over asking.

Days on Market for Basking Ridge, NJ

How long does it take to sell a home in Basking Ridge, NJ?

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
0 DaysThis YearMay 2025
68 Days1 year agoMay 2024
0.0 %
Change YoYMay 2024 – May 2025

Summary: Homes in Basking Ridge had an average listing age of 0 days in May 2025, down by .0% compared to the previous year.

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Newest Listings in Basking Ridge, NJ

What homes are available in Basking Ridge, NJ?

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MLS Disclaimers and Copyright

Based on information from Garden State MLS, and Monmouth Ocean Regional MLS for the period 06/01/2023 - 06/01/2025

Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/5/2025, 2:45:25 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2025 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/5/2025, 2:40:35 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.