$399,000
347 Penns Way
Basking Ridge, NJ
2 bd2 ba
Condo
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Sarah Mitchell
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Compass Real Estate · Basking Ridge, NJ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
Basking Ridge, NJ(512) 555-0184TX License #0512847
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Basking Ridge, NJ Housing Market & Real Estate
Strong seller's market+63.2% YoY
Housing market overview · Updated monthly ·
$1.35Mmedian sale price
How is the Basking Ridge, NJ housing market right now?
The median home sale price in Basking Ridge, NJ is $1.35M, up 63.2% year-over-year. Homes sell in an average of 18 days with 5 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Basking Ridge a buyer's or seller's market?
Strong seller's market0.5 months of supply18 avg. days on market
Basking Ridge, NJ is currently a strong seller's market, based on 0.5 months of supply and homes selling in about 18 days. How we determine this →
Homes sold
11
Last 12 weeks
Days on market
18
Fast-moving
Active listings
5
0.5 months supply
Sale-to-list
106.7%
Above asking
What does the Basking Ridge housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $1.35M |
| Median list price | $965,000 |
| Year-over-year price change | +63.2% |
| Average days on market | 18 days |
| Active inventory | 5 listings |
| Months of supply | 0.5 months |
| Sale-to-list price ratio | 106.7% |
| Median price per sq ft | $520/sq ft |
| Homes sold (latest month) | 11 |
| New listings (latest month) | 3 |
| Listings with a price cut | 40.0% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Basking Ridge by property type?
How the Basking Ridge, NJ market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.35M | $520/sq ft | 11 | 18 days |
| Condo / Co-op | $300,000 | $350/sq ft | 1 | 35 days |
Source: Redfin · Updated monthly
The Basking Ridge housing market is currently classified as a strong seller's market with a median sale price of $1.35M. Prices have risen 63.2% compared to last year, with homes spending an average of 18 days on market, indicating 0.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.8x provides context for how home values compare to local earning capacity.
Homes for sale in Basking Ridge
There are currently 5 homes listed for sale in Basking Ridge, New Jersey. The median listing price is $965K. Featured listings range from $399,000 to $2,399,900.
$399,000
289 English Pl
Basking Ridge, NJ
2 bd2 ba
Condo
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$875,000
47 Dexter Dr N
Basking Ridge, NJ
2 bd4 ba
Condo
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$885,000
266 Patriot Hill Dr
Basking Ridge, NJ
3 bd3 ba
Townhouse3,049 sqft lot
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$949,000
134 Spencer Rd
Basking Ridge, NJ
3 bd3 ba
House41,382 sqft lot
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$1,150,000
81 Atlas Rd
Basking Ridge, NJ
5 bd3 ba
House40,511 sqft lot
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$1,250,000
24 Benedict Cres
Basking Ridge, NJ
3 bd4 ba
Townhouse13,504 sqft lot
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$1,259,000
7 Watchung Dr
Basking Ridge, NJ
4 bd3 ba
House8,712 sqft lot
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$1,299,000
18 Juniper Way
Basking Ridge, NJ
4 bd4 ba
House20,038 sqft lot
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$1,399,000
1 Vanderveer Dr
Basking Ridge, NJ
5 bd4 ba
House22,216 sqft lot
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$2,150,000
23 Galloping Hill Rd
Basking Ridge, NJ
5 bd5 ba
House1.71 acres
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$2,399,900
25 Carriage Way
Basking Ridge, NJ
6 bd8 ba5,318 sqft$451/ft²
House39,640 sqft lot
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Active listings
5
Homes on market
Median list price
$965K
Avg. days on market
18
Days until sale
New this week
3
Newly listed
Price drops:40.0%of listings
Sale-to-list:106.7%
Who lives in Basking Ridge?
Population
7,882
Median income
$200,378/yr
Median age
46.6 years
Owner-occupied
84.6%
College grads
73.6%
Avg commute
28.5 min
Source: U.S. Census Bureau ACS
What are homes worth in Basking Ridge?
Zillow home value
$961,665
Zillow rent index
$3,773/mo
Price-to-rent ratio
21.2x
Price-to-income
4.8x
Source: Zillow Research
What is it like to live in Basking Ridge?
Basking Ridge is a community of approximately 8K residents with a median age of 46.6 years.The median household income is $200,378, which reflects a relatively affluent area with strong earning potential. 73.6% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 84.6%, reflecting strong community stability and long-term resident commitment. The average commute time is 28.5 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Basking Ridge offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Basking Ridge?
6 schools tracked · 4,762 students
The largest public schools serving Basking Ridge, NJ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Ridge High School
Grades 9-12 · 1,644 students
William Annin Middle School
Grades 6-8 · 1,126 students
Cedar Hill School
Grades K-5 · 572 students
Mount Prospect Elementary School
Grades PK-5 · 530 students
Hamilton Primary School
Grades K-4 · 471 students
Oak Street School
Grades K-5 · 419 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Basking Ridge, NJ?
Want a head-to-head view? Compare Basking Ridge side-by-side with any other U.S. city using our market-comparison tool.
Is Basking Ridge a good real estate investment market?
For investors evaluating Basking Ridge, the price-to-rent ratio of 21.2x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 63.2% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Basking Ridge's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Basking Ridge's median home price.
Frequently asked questions
What is the average home price in Basking Ridge?
The median home sale price in Basking Ridge is $1.35M, up 63.2% from last year.
How long do homes stay on market in Basking Ridge?
Homes typically spend 18 days on market before going under contract.
What is the median income in Basking Ridge?
The median household income is $200,378 per year.
Is Basking Ridge a buyer's or seller's market?
With 0.5 months of supply, Basking Ridge is currently a strong seller's market.
How many homes are for sale in Basking Ridge?
There are currently 5 homes listed for sale in Basking Ridge, NJ.
What is the Zillow home value estimate for Basking Ridge?
The Zillow Home Value Index (ZHVI) for Basking Ridge is $961,665, representing the typical home value in the area.
What is the median condo price in Basking Ridge?
The median condo/co-op sale price in Basking Ridge, NJ is $300,000, compared to $1.35M for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Basking Ridge?
The median single-family home price in Basking Ridge, NJ is $1.35M (about $520 per square foot).
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