Cinnaminson Real Estate Market Update YTD 2/2008

By
Real Estate Agent with Prudential Fox & Roach

Here's your Cinnaminson Real Estate market update for February 2008.  Pended units for February were down 4 and Sold units were down 1 compared 2007; listed units however were up by 1 unit versus 2007.  This has led to a current inventory of 102 units.  Cinnaminson has been averaging 10 units sold per month which means there is currently 10 months worth of inventory in Cinnaminson.  This trails the overall Burlington County market, which has 9 months worth of inventory.  Year to date listed units are up 2 (a 4.2% increase), pended units are down 13 (a 162.5% decrease) and sold units are down 7 (a 63.4% decrease).  See how this compares to the Burlington County Market.

The last 3 years the average number of units pended and sold in February was approximately 11 & 9 respectively.  This February there was 4 units pended and 8 sold.  These numbers indicate a market that is adding inventory faster than it can be absorbed.  If you see real estate as a long term investment, now is a great time to buy or "move-up" because the numbers are working in your favor.

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 2/2007-2/2008 numbers for listed, pended and sold units. 

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 3/14/2008.

 

 

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