Bridgewater is well-located in central New Jersey, and constitutes one of the largest real estate markets in Somerset County - second only to Franklin Township.  The market in May was especially noteworthy for a couple of reasons.

Absorption Rate.  The number of months is would take to sell existing inventory at current rates of sale saw an uptick of about 3 days - hardly significant.  What is significant is that it went from 6.4 to 6.5, where 6.0 is considered a market in balance.  Bridgewater is the strongest in terms of absorption rate in Somerset County, where the county-wide rate moved up to 9 months.

Supply/Demand Ratio.  The ratio between sales made and new listings rose significantly to 63%, i.e., nearly two-thirds as many sales were made as listings taken.  That's the best May number since 2005, when it reached 72%.  This is an early indicator of a market returning to normalcy after high inventories and low sales.

There were 306 active listings on June 1 in Bridgewater, 75 of them taken in May.  Last year there were 337 active listings and 72 taken.  Closed sales still trail last year's numbers, when there were 209 closed sales, and only 121 during the first five months of this year.  The market has seen its worst days in Bridgewater,  and activity, especially under $400,000, seems to be brisk.