The Palmyra Real Estate market receives a mixed review when compared to the Burlington County market as a whole for 2007. Pended units were down 5 and Sold units were down 4 versus 2006. Listed units were up by 13 in the same period. This has led to a current inventory of 74 units. Palmyra has been averaging 11 units sold per month which means there is currently 6 months worth of inventory in Palmyra. This slightly outperforms the Burlington County market, which has 8 months worth of inventory. An inventory accumulation rate of 6 months represents a fairly balanced market given the time a year: leaning more towards buyers then sellers.
Palmyra had an average sale price in 2007 of $203,410 which is 2.2% lower then the sold average for 2006. Burlington County's average sale price comparison during the same period is basically flat at a 0.06% decrease.
What does all this mean? It means that Palmyra is a market to watch closely. 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. The number of units sold has steadily increased since September, which is a positive trend for those trying to sell.
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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