All 13 counties saw dramatic decreases in sales activity, with the highest percentages in::
- Delaware County, PA – 48.0%
- Camden County, NJ – 40.5%
- New Castle County, DE – 39.3%
- Burlington County, NJ – 38.8%
- Montgomery County, PA – 37.4%
Sale Prices Up Slightly
Average sale prices increased 6.0% when comparing numbers from July 2010 to July 2009. Overall, prices increased in eight counties.
The highest increases:
- Burlington County, NJ – 17.8%
- Delaware County, PA – 10.7%
- Montgomery County, PA – 10.1%
The highest decreases:
- Salem County, NJ – 23.0%
- Camden County, NJ – 8.6%
Seven counties saw higher median prices. Burlington County led the way at 13.5%, while Salem County had the largest decrease at 29.7%.
Pending Sales Drop Significantly
Pending sales decreased in all 13 counties in July compared to July 2009, dropping overall numbers by 27.8%. Sales were 4,172 in July and 5,773 in July 2009.
Individually, the highest decreases were:
- Salem County, NJ – 39.3%
- Gloucester County, NJ – 35.7%
- Burlington County, NJ – 33.6%
Activity in Other Property Categories
Sales increased for lots, land and farms in July 2010, compared to 2009. The number of sales for commercial and multi-family listings decreased.
Inventory at the end of July stood at 53,824. That’s up from 50,803 a year ago, suggesting supply and demand in Philadelphia is still out of balance.
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