Here’s the Cherry Hill Real Estate market update for August 2008. Pended units for August were down 26 and Sold units were down 26 compared to August 2007; listed units were down 28 versus 2007. This has led to a current inventory of 635 units. Cherry Hill has been averaging 59 units sold per month which means there is currently 10 months worth of inventory in Cherry Hill. This outperforms the overall Camden County market, which has 12 months worth of inventory. Year to date listed units are down 211 (a 16.3% decrease), pended units are down 186 (a 36.4% decrease) and sold units are down 205 (a 43.1% decrease). See how this compares to the Camden County Market.
Over the last 3 years the average number of units pended and sold in August was approximately 92 & 109 respectively. This August, there were 55 units pended and 72 sold. The average Days on Market for the year in Cherry Hill is 79.
What does all this mean? 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 8/2007-8/2008 numbers for listed, pended and sold units.
Below is a chart that shows the average list price and average sold price for Cherry Hill from 8/2007-8/2008. The average sold price is down 7.1% from August 2007 ($294,581) to August 2008 ($273,813).
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 9/15/2008.
Comments(0)