The Moorestown Real Estate market ended 2007 by trailing how the Burlington County market performed as a whole. Pended units for the year were down 23 and Sold units were up 7 compared 2006; while listed units were up by 21 units versus 2006. This has led to a current inventory of 195 units. Moorestown has been averaging 20 units sold per month which means there is currently 9 months worth of inventory in Moorestown. This trails the overall Burlington County market, which has 8 months worth of inventory. It's important to note that in a month's time the amount of inventory declined from 12 to 9 months and 10 to 8 months respectively for Moorestown and Burlington County.
Moorestown ended the year with an average sale price of $542,932 which is 3.5% lower then the sold average in 2006. Burlington County's average sale price during the same period is basically flat at a 0.06% decrease.
What does all this mean? It means that Moorestown was outperformed by Burlington County as a whole for 2006. 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 2007 numbers for listed, pended and sold units. You'll notice that the number of units sold has steadily increased since September. This is a trend that sellers would like to see continue. As for buyers, now is an excellent time to focus on buying in Moorestown.
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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