The Pennsauken Real Estate market is slightly outperforming the Camden County market. Pended units through October are down 68 and Sold units are down 72 versus the same period in 2006, listed units are up by 87 in the same period. This has led to a current inventory of 333 units. Pennsauken has been averaging 38 units sold per month which means there is currently 8 months worth of inventory in Pennsauken. This outperforms the Camden County market, which has 10 months worth of inventory. An inventory accumulation rate of 8 months represents a fairly balanced market given the time a year: leaning more towards buyers then sellers.
Year to date through October, Pennsauken has an average sale price of $183,728 which is 1.2% higher then the sold average in 2006. Camden County is 1.9% higher during the same period.
What does all this mean? It means that Pennsauken is a market to watch closely. In other words, if you are thinking of buying or selling right now it's important that you seek the advice of a full time professional realtor who can best advise you as to how to take advantage of this market.
The chart below provides you with the October year to date numbers for listed, pended and sold units. You'll notice that the number of units has listed has remained basically flat since April. Typically, the number of homes listed should begin to decrease month-to-month starting in June.
If you are thinking of selling or buying in the near future, please don't hesitate to contact me directly at 856-222-5829. Or you may always visit me on line for tons of useful tips and ideas at no cost or obligation to you. I look forward to helping you reach your Real Estate goals.
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