Here’s your June Burlington County Real Estate market update.  For June, listed units were down 215 units compared to June 2007, or a 22.5% decrease.  Pended units for June were down 124, or a 31.3% decrease. Sold units were down 131 compared to June 2007, a 26.4% decrease.  This has led to a current inventory of 4269 units.  Burlington County has been averaging 366 units sold per month which means there is currently 11 months worth of inventory in Burlington County.  Year to date listed units are down 13.2%, pended units are down 27.7% and sold units are down 30.7% versus 2007.

Over the last 3 years the average number of units pended and sold in June was approximately 620 & 803 respectively.  This June, there were 396 units pended and 496 sold.  The average Days on Market for the year is 90.  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 6/2007-6/2008 numbers for listed, pended and sold units. 

I’ve included a chart that shows the average list price and average sold price for Burlington County from 6/2007-6/2008.  The average sold price is down 5.5% from June 2007 ($306,226) to June 2008 ($289,485).

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 June 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 7/14/2008.