Here’s the Moorestown Real Estate market update for October 2008.  Pended units for October were down 8 and Sold units were flat compared to October 2007; listed units were down 18 versus 2007.  This has led to a current inventory of 197 units.  Moorestown has been averaging 16 units sold per month which means there is currently 12 months worth of inventory in Moorestown. This trails the overall Burlington County market, which has 10 months worth of inventory. Year to date listed units are down 56 (a 13% decrease), pended units are down 23 (a 13% decrease) and sold units are down 34 (a 21% decrease).  See how this compares to the Burlington County Market.

Over the last 3 years the average number of units pended and sold in October was approximately 17 & 16 respectively.  This October, there were 8 pended and 12 sold. The average Days on Market for the year is 103.

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 10/2007-10/2008 numbers for listed, pended and sold units. 

Moorestown Real Estate Chart

Below is a chart that shows the average list price and average sold price for Moorestown from 10/2007-10/2008.  The average sold price is down 22% from October 2007 ($538,728) to October 2008 ($471,595).

 Moorestown Real Estate Chart

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 11/17/2008.

 

 

2 Comments on Moorestown Real Estate Market Update YTD October 2008

NOV
22
2008
Localism Sponsor

Excellent market reports Matt. Gives a good picture of what's happening in the market right now.
5:31am • #1
NOV
24
2008

Hi Judy- I took an AR break this weekend;-)  Thanks for the comment.  Your market reports are excellent as well.
11:36am • #2


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Matt Moxhay Moorestown Real Estate

Moorestown, NJ

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Prudential Fox & Roach

Address: 1 W Main Street, Moorestown, NJ, 08057

Office Phone: (856) 234-0011 x 189

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Southern New Jersey Real Estate. Serving Burlington and Camden County with a focus on Moorestown, Mt. Laurel, Delran, Cinnaminson, Cherry Hill and Pennsauken.


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