These statistics were published by Trend MLS our local Real estate Board and reflect the local market place. Residential sales activity for TREND’s MLS Coverage Area dropped 39% in October compared to a year ago, according to statistics generated by MLS Blue. There were 3,548 sales reported in October 2010, compared to 5,863 in October 2009. The October 2010 numbers dipped slightly below September 2010, when activity hit 3,828 sales.
Average sale prices increased 6.1% when comparing numbers from October 2010 to October 2009. Overall, prices increased in eight counties.
- Chester County, PA – 22.2%
- Delaware County, PA – 19.1%
- Salem County, NJ – 10.1%
- Kent County, DE – 6.2%
- Philadelphia County, PA – 3.1%
- Gloucester County, NJ – 2.8%
Eight counties saw higher median prices. Burlington County, NJ led the way at 10.9%, while Salem County, NJ had the largest decrease at 7.3%
Pending Sales Drop by 33%
Pending sales decreased in all 13 counties in October 2010 compared to October 2009, dropping overall numbers by 33.5%. Sales were 3,900 in October 2010 and 5,867 in October 2009.
Individually, the highest decreases were:
- Gloucester County, NJ – 59.1%
- Camden County, NJ – 43.0%
- Delaware County, PA – 39.0%
Activity in Other Property Categories
Sales increased for multi-family properties in October 2010, compared to October 2009. The number of sales for commercial listings and lots, land and farms decreased.
Inventory at the end of October stood at 53,987. That’s up from 48,488 a year ago, suggesting that supply and demand in Philadelphia is still out of balance.
reported by trend mls and copyrighted used with permission