Here is your February Burlington County Real Estate market update. For February, listed units were "down" 1 unit compared to 2/2007, or a 0.1% "decrease." Pended units for February were down 159, or a 49.8% decrease. Sold units were down 158 compared February 2007, a 60.4% decrease. This has led to a current inventory of 4004 units. Burlington County has been averaging 401 units sold per month which means there is currently 9 months worth of inventory in Burlington County. Year to date listed units are down 3.7%, pended units are down 44.9% and sold units are down 39.1%.
Over the last 3 years the average number of units pended and sold in February was approximately 534 & 414 respectively. This February, there were 319 units pended and 261 sold. These numbers indicate a market that is adding inventory faster than it can be absorbed. If you see real estate as a long term investment, now is a great time to buy or "move-up" because the numbers are working in your favor.
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 2/2007-2/2008 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 3/14/2008.
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