The Pennsauken Real Estate market was slightly outperformed by the Camden County market as a whole in 2007. Pended units were down 101 and Sold units were down 82 versus 2006. Listed units were down by 58 in the same period. This has led to a current inventory of 293 units. Pennsauken has been averaging 41 units sold per month which means there is currently 7 months worth of inventory in Pennsauken. This outperforms the Camden County market, which has 8 months worth of inventory. An inventory accumulation rate of 7 months represents a fairly balanced market given the time a year: favoring the buyers.
Pennsauken had an average sale price in 2007 of $180,753 which is 0.04% lower then the sold average in 2006 (basically flat year to year). This lags behind how Camden County performed during the same period: which saw a 1.4% increase
What does all this mean? It means that Pennsauken 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.
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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