Burlington County Real Estate Update - Nov '07

Burlington County Real Estate Market Update

In November, there were 4,998 homes for sale.  Compared to this time last year this is roughly a 9% increase.  On the flip side, the number of homes that have sold has dropped almost 11%.  The homes that are selling are on the market about 90 days on average.  The following graph shows the increase in homes for sale over the past two years. 

 

Regarding prices...yes they are dropping.  The average price is about $264k.  This is roughly a 8% drop from last year. 

So as I've said before...if you're trying to sell right now, you really need to understand what your goals are.  Pricing and marketing is key.  You need to price your home aggressively if you want to sell. 

Based on information from Trend through November 2007.  Information deemed reliable but not guaranteed