Here’s your Cinnaminson Real Estate market update for May 2008. Pended units for May were down 2 and Sold units were down 9 compared 2007; listed units were down by 8 units versus 2007. This has led to a current inventory of 98 units. Cinnaminson has been averaging 9 units sold per month which means there is currently 11 months worth of inventory in Cinnaminson. This matches the overall Burlington County market, which also has 11 months worth of inventory. Year to date listed units are down 10 (a 8.1% decrease), pended units are down 19 (a 40.4% decrease) and sold units are down 20 (a 58.8% decrease). See how this compares to the Burlington County Market.
The last 3 years the average number of units pended and sold in May was approximately 16 & 15 respectively. This May there was 11 units pended and 6 sold. The average Days on Market for the year is 88. 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 5/2007-5/2008 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.
*Market statistics as of 6/19/2008.