The Palmyra Real Estate market started 2008 by slightly outperforming how the Burlington County market performed as a whole. Pended units for the January were down 5 and Sold units were down 4 compared 2007; listed units were down 8 versus 2007. This has led to a current inventory of 58 units. Palmyra has been averaging 10 units sold per month which means there is currently 5 months worth of inventory in Palmyra. This outperforms the overall Burlington County market, which has 9 months worth of inventory
Over the last 3 years the average number of units pended and sold in January was approximately 12 & 9 respectively. This January, there were 7 units pended and 3 sold. Obviously, sellers do not want to see a trend of fewer pended and sold units versus 2007. However, the decrease in listed units versus 2007 was a positive sign.
What does all this mean? It means that Palmyra 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 2007-2008 numbers for listed, pended and sold units.
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.
*Market statistics as of 2/11/2008.
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