The Burlington County Real Estate market started 2008 with the 2nd straight month of year to year declines in the amount of properties listed.  For January, listed units were down 79 units compared to 1/2007, or a 7.6% decrease.  Pended units for January were down 167, or a 53.7% decrease. Sold units were down 54 compared January 2007, a 20.22% decrease.  This has led to a current inventory of 3856 units.  Burlington County has been averaging 413 units sold per month which means there is currently 9 months worth of inventory in Burlington County. 

Over the last 3 years the average number of units pended and sold in January was approximately 493 & 390 respectively.  This January, there were 311 units pended and 267 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 January 2007 was a positive sign as long as the residual inventory can remain at a reasonable level.

What does all this mean?  It means that Burlington County 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.