Cinnaminson Real Estate Market Update YTD 10/2007

By
Real Estate Agent with Prudential Fox & Roach

The Cinnaminson Real Estate market is falling behind how the Burlington County market is performing as a whole.  While Pended units through October are down 37 and Sold units are down 42 versus the same period in 2006; listed units are only down by 6 in the same period.  This has led to a current inventory of 125 units.  Cinnaminson has been averaging 10 units sold per month which means there is currently 12 months worth of inventory in Cinnaminson.  This trails the overall Burlington County market, which has 10 months worth of inventory. An inventory accumulation rate of 12 months represents a shift to more of a buyers market.

Year to date through October, Cinnaminson has an average sale price of $294,600 which is 0.4% lower then the sold average in 2006.  Burlington County's average sale price during the same period is basically flat at a 0.03% increase

What does all this mean?  It means that Cinnaminson is being outperformed by Burlington County as a whole.  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 October year to date numbers for listed, pended and sold units.  You'll notice that the number of units listed in October was above September and August's totals.  This is a trend that has been going on since July and one that buyers would like to see continue. 

Cinnaminson 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.

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