When looking at the year-to-month (using the most recently completed month of January) actual statistics, by year, for Burlington County, the results, by year, for residential homes on the market, sold, average price and days for sale before close is charted as follows:
Yr Ending | Units Listed | Units Sold | % Sold | Sold Avg. | Avg. |
2008 | 12315 | 5169 | 42 | $280,022 | 79 |
2007 | 12885 | 6357 | 49 | $285,141 | 63 |
2006 | 11380 | 7454 | 66 | $273,326 | 49 |
2005 | 10214 | 7692 | 75 | $237,233 | 48 |
2004 | 9419 | 7134 | 76 | $211,583 | 45 |
This shows some interesting trends in the number of units going on sales, despite the decreased demand, which eventually begins to push down the price and extend the average days on market.
The current inventory is 3873, with an average monthly Sold of 414, yielding a backlog of 9 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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