Moorestown Market Update September 2008
Here’s the Moorestown Real Estate market update for September 2008. Pended units for September were down 2 and Sold units were up 5 compared to September 2007; listed units were down 17 versus 2007. This has led to a current inventory of 206 units. Moorestown has been averaging 15 units sold per month which means there is currently 13 months worth of inventory in Moorestown. This trails the overall Burlington County market, which has 12 months worth of inventory. Year to date listed units are down 38 (a 9% decrease), pended units are down 17 (a 10% decrease) and sold units are down 34 (a 22% decrease). See how this compares to the Burlington County Market.
Over the last 3 years the average number of units pended and sold in September was approximately 13 & 17 respectively. This September, there were 12 pended and 16 sold. The average Days on Market for the year is 103.
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 9/2007-9/2008 numbers for listed, pended and sold units.
Below is a chart that shows the average list price and average sold price for Moorestown from 9/2007-9/2008. The average sold price is up 68% from September 2007 ($350,187) to September 2008 ($590,705).
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 10/15/2008.