Here’s the Marlton Real Estate market update for September 2008.  Pended units for September were flat and Sold units were down 1 compared to September 2007; listed units were down by 15 units versus 2007.  This has led to a current inventory of 421 units.  Marlton has been averaging 43 units sold per month which means there is currently 9 months worth of inventory in Marlton.  This outperforms the overall Burlington County market, which has 12 months worth of inventory. Year to date listed units are down 63 (a 6% decrease), pended units are down 82 (a 17% decrease) and sold units are down 119 (a 28% decrease).  See how this compares to the Burlington County Market.

Over the last 3 years the average number of units pended and sold in September was approximately 59 & 55 respectively.  This September, there were 42 units pended and 39 units sold.  These numbers indicate a market that is adding inventory faster than it can be absorbed.  The average Days on Market for the year is 75.

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 9/2007-9/2008 numbers for listed, pended and sold units. 

Below is a chart that shows the average list price and average sold price for Burlington County from 9/2007-9/2008.  The average sold price is down 6% from September 2007 ($280,920) to September 2008 ($263,454).

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 10/15/2008.