Here is your March Burlington County Real Estate market update.  For March, listed units were down 204 unit compared to 2/2007, or a 19.3% decrease.  Pended units for March were down 126, or a 29.4% decrease. Sold units were down 175 compared March 2007, a 55.7% decrease.  This has led to a current inventory of 4100 units.  Burlington County has been averaging 388 units sold per month which means there is currently 10 months worth of inventory in Burlington County.  As of the February update, there was 9 months worth of inventory.  Year to date listed units are down 8.9%, pended units are down 35.9% and sold units are down 44.4% versus 2007.

Over the last 3 years the average number of units pended and sold in March was approximately 659 & 542 respectively.  This March, there were 428 units pended and 314 sold.  These numbers indicate a market that is adding inventory faster than it can be absorbed, as has been the trend since the start of this year.  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 3/2007-3/2008 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 4/16/2008.