The Moorestown Real Estate market is falling behind how the Burlington County market is performing as a whole. While Pended units through November are down 23 and Sold units are down 4 versus the same period in 2006; listed units are up by 28 units in the same period. This has led to a current inventory of 224 units. Moorestown has been averaging 19 units sold per month which means there is currently 12 months worth of inventory in Moorestown. This trails the overall Burlington County market, which has 10 months worth of inventory. An inventory accumulation rate of 12 months favors the buyers.
Year to date through November, Moorestown has an average sale price of $552,719 which is 1.8% lower then the sold average in 2006. Burlington County's average sale price during the same period is basically flat at a 0.02% decrease.
What does all this mean? It means that Moorestown is being outperformed by Burlington County as a whole. 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 November year to date numbers for listed, pended and sold units. You'll notice that the number of units listed in November was below October totals, while the number of homes pended and sold increased over October. This is a trend that sellers would like to see continue. As for buyers, now is an excellent time to focus on buying in Moorestown.
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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