HOME & DESIGN theconnectionsnj.com PAGE 36 f you’ve been wondering what this year’s real estate market means for your home, the news is encouraging. Using Bernards Township as representative of Somerset Hills trends, we observed the following and addressed overall factors that affect sales, regardless of town. Halfway through 2026, fewer Bernards Township homeowners have decided to sell, yet buyers continue purchasing homes at nearly the same pace as last year. New listings are down almost 14% from a year ago, while closed sales remain steady. With demand continuing to outpace supply, home values have kept moving higher. The median sale price of a single-family home has risen nearly 10% to $1,362,500. Of course, every home is different. Style, condition, updates, location, variety of homes on the market and presentation all play an important role in determining value. Buyers do have a few more homes to choose from than they did earlier this year, which has created a healthier market, without shifting the advantage away from sellers. While inventory has improved since January, there are still far fewer homes available than we’d typically expect in a balanced market. Well-prepared homes continue to attract strong interest and multiple offers when priced correctly, while some homes are experiencing price reductions for a variety of reasons. Mortgage rates also remain an important part of the story. Although rates are still considerably higher than they were a few years ago, the Federal Reserve’s July 29th decision to hold rates steady has given buyers some reassurance. Higher borrowing costs mean today’s buyers are making a much larger monthly investment, so they’re looking more carefully at the overall condition of a home. Properties that have been well maintained and thoughtfully updated continue to stand out, while homes with deferred maintenance often take longer to sell. The buyer mindset has changed as well. A few years ago, buyers worried about missing out if they didn’t act immediately. Today, some will wait, hoping something even better comes along, or see how quickly the home receives interest. That makes thoughtful pricing and strong presentation more important than ever. Homes that are priced realistically continue to generate the greatest interest and often receive multiple offers, while homes priced as though they’re already the exception can sit longer than expected. For homeowners thinking about selling next year, there’s one piece of advice that’s easy to overlook. Have photos taken to capture your home while it’s at its seasonal best. Summer landscaping, colorful gardens, mature trees, patios, pools, and lush lawns create first impressions that simply can’t be recreated once autumn and winter arrive. The mid-year picture is reassuring for homeowners across our local area. Demand remains strong, values continue to appreciate, and buyers are still eager to move into our community. The market may be more thoughtful than frantic today, but preparation, realistic pricing, and presenting your home in its best light continue to produce the strongest results. Marie Young is a longtime real estate professional with Coldwell Banker Realty. Her office is located in Basking Ridge, NJ. Reach her by email at marie@marieyoung. net or by cell at 908-938-2525. Thinking of moving? Think Young! REALTALK Prices Are Climbing, Patience Is Growing and Buyers Are Getting More Discerning By Marie Young Somerset Hills · Bernards Township / Basking Ridge, NJ Mid-Year 2026 Market Report (as of 6/29/26) I B. Horstmann Septic Service LLC. When Was the Last Time You Had Your SEPTIC TANK PUMPED? Family Owned & Operated Since 1978 908-204-1951 Cleaning out septic tanks, cesspools, drywells & holding tanks for residential, commercial & industrial properties • Jetting, Camera Inspections, Snaking & all repairs on septic systems B. Horstmann Septic Service LLC. $20 www.septictankcleaningnj.com OFF our service Please show coupon for discount. Limit one per customer. Cannot be combined with any other offers. Expires 11/15/19. 8/31/21. 11/15/26. • Interior Painting • Fine Trim and Moldings Installed • Basement Remodeling • Tile & Marble Installation • Bathrooms • Replacement Windows • Tape and Spackle Painting by Raymond Painting & Carpentry References & Insured Raymond McConnell HIC# 13VH06581900 (908) 672-3541 • Basking Ridge, NJ
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