South Jersey » Roxanne

Cinnaminson NJ Home Sales Report

Roxanne — Sat, 21 Mar 2009 13:32:39 +0000

Cinnaminson, NJ real estate market activity report as of March 21, 2009. Cinnaminson currently has 113 active MLS listings within Trend MLS. The historical data provided is for February 2008 through February 2009, in which there was an average of 9 residential properties sold per month giving Cinnaminson an inventory accumulation of 12 months.

Monthly Statistics for Cinnaminson, NJ between February 2008 and February 2009

Date	Units Listed	Listed Average	Pended	Units Sold	Sold Average	Average DOM
Feb 2009	23	387,041	8	9	240,155	114
Jan 2009	19	296,320	11	9	214,166	123
Dec 2008	16	231,418	9	7	229,500	117
Nov 2008	18	250,659	4	7	287,857	89
Oct 2008	26	281,857	8	6	282,583	85
Sep 2008	25	298,316	8	8	253,812	90
Aug 2008	25	317,811	10	15	261,973	106
July 2008	29	318,975	11	10	280,090	31
June 2008	19	293,542	11	16	304,453	102
May 2008	26	306,095	10	6	277,500	90
Apr 2008	25	367,284	10	12	232,700	72
Mar 2008	24	368,162	16	5	250,280	97
Feb 2008	26	297,819	5	8	407,062	97

Totals:	301	312,377	121	118	271,215	93

Inventory Accumulation for the Last 12 Full Months


Current Inventory *	Inventory Volume	Current Average	Average Monthly Sales**	Inventory Accumulation ***
113	36,039,936	318,937	9	12

*Current Inventory is based on the actual available properties on the date this report was created.
**Average Monthly Sales is the average sales for the last 12 full months
***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices	Maximum Prices	Average Prices
Original List Price : $105,000	Original List Price: $994,500	Original List Price: $297,403
Sold Price : $83,000	Sold Price: $900,000	Sold Price: $271,215

Market Statistics Criteria Used
Date Range:	2/2008 to 2/2009
Price Range:	$0 to $9,999,000
Property Category:	Residential
Area:	Cinnaminson Twp

If you would like the data on any municipality within Burlington, Camden, Gloucester, Mercer, or Salem counties post a request in the responses and I will get it up for you.

-Roxanne Ardary

South Jersey YTD Housing Market Snapshot – Feb 09

Roxanne — Wed, 18 Mar 2009 07:37:42 +0000

The year to date housing market snapshot is provided by Trend MLS and includes home sales information for transactions recorded from January 1st through February 28th within Burlington, Camden, Gloucester, Mercer, and Salem Counties. The three year comparison is for the same time period in 2007, 2008, and 2009.

Burlington County Single Family Home Sales:

Settled Units:

2007: 582
2008: 454 (2007/2008 change: -21.99%)
2009: 350 (2008/2009 change: -22.91%)

Average Settled Price:

2007: $302,000
2008: $270,000 (2007/2008 change: -10.60%)
2009: $254,000 (2008/2009 change: -5.93%)

Median Settled Price:

2007: $259,000
2008: $230,000 (2007/2008 change: -11.20%)
2009: $220,000 (2008/2009 change: -4.35%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.68%
2008: 91.99% (2007/2008 change: -1.80%)
2009: 88.56% (2008/2009 change: -3.73%)

Camden County Single Family Home Sales:

Settled Units:

2007: 724
2008: 538 (2007/2008 change: -25.69%)
2009: 395 (2008/2009 change: -26.58%)

Average Settled Price:

2007: $214,000
2008: $205,000 (2007/2008 change: -4.21%)
2009: $183,000 (2008/2009 change: -10.73%)

Median Settled Price:

2007: $192,000
2008: $190,000 (2007/2008 change: -1.04%)
2009: $170,000 (2008/2009 change: -10.53%)

Average Percentage Settled Price was of Original Listing Price:

2007: 94.13%
2008: 91.46% (2007/2008 change: -2.84%)
2009: 88.35% (2008/2009 change: -3.40%)

Gloucester County Single Family Home Sales:

Settled Units:

2007: 416
2008: 278 (2007/2008 change: -33.17%)
2009: 248 (2008/2009 change: -10.79%)

Average Settled Price:

2007: $244,000
2008: $235,000 (2007/2008 change: -3.69%)
2009: $218,000 (2008/2009 change: -7.23%)

Median Settled Price:

2007: $229,000
2008: $215,000 (2007/2008 change: -6.11%)
2009: $200,000 (2008/2009 change: -6.98%)

Average Percentage Settled Price was of Original Listing Price:

2007: 94.11%
2008: 92.57% (2007/2008 change: -1.64%)
2009: 89.22% (2008/2009 change: -3.62%)

Mercer County Single Family Home Sales:

Settled Units:

2007: 433
2008: 311 (2007/2008 change: -28.18%)
2009: 219 (2008/2009 change: -29.58%)

Average Settled Price:

2007: $306,000
2008: $383,000 (2007/2008 change: +25.16%)
2009: $304,000 (2008/2009 change: -20.63%)

Median Settled Price:

2007: $255,000
2008: $280,000 (2007/2008 change: +9.80%)
2009: $245,000 (2008/2009 change: -12.50%)

Average Percentage Settled Price was of Original Listing Price:

2007: 92.18%
2008: 89.85% (2007/2008 change: -2.53%)
2009: 87.67% (2008/2009 change: -2.43%)

Salem County Single Family Home Sales:

Settled Units:

2007: 83
2008: 58 (2007/2008 change: -30.12%)
2009: 36 (2008/2009 change: -37.93%)

Average Settled Price:

2007: $166,000
2008: $204,000 (2007/2008 change: +22.89%)
2009: $148,000 (2008/2009 change: -27.45%)

Median Settled Price:

2007: $142,000
2008: $182,000 (2007/2008 change: +28.17%)
2009: $130,000 (2008/2009 change: -28.57%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.82%
2008: 90.91% (2007/2008 change: -3.10%)
2009: 83.29% (2008/2009 change: -8.38%)

Mount Laurel, NJ Home Sales Report

Roxanne — Tue, 17 Mar 2009 16:20:19 +0000

Mount Laurel, NJ currently has 427 residential properties for sale with an average of 46 properties sold per month giving Mt. Laurel a 9 month inventory accumulation. Although there were less new listings coming onto the market in Feb ’09, than in Feb. ’08, the number of properties going under contract (pended) and settled stayed close to the same. The January year over year comparison of the real estate market activity, however, experienced a decline in listings, pendings, and settled properties.

Mt. Laurel Monthly Statistics for February 2008 through February 2009

Date	Units Listed	Listed Average	Pended	Units Sold	Sold Average	Average DOM
Feb 2009	83	308,564	33	30	230,571	73
Jan 2009	111	282,352	28	28	274,882	116
Dec 2008	44	290,418	31	48	282,844	87
Nov 2008	66	332,568	37	24	235,974	65
Oct 2008	92	259,935	36	54	282,696	77
Sep 2008	117	270,979	47	39	284,049	62
Aug 2008	90	300,260	46	64	301,057	78
July 2008	109	306,118	52	56	244,641	70
June 2008	117	301,050	56	78	267,309	80
May 2008	118	309,991	76	49	238,918	70
Apr 2008	123	285,393	51	51	242,774	60
Mar 2008	117	299,870	59	34	264,639	101
Feb 2008	109	292,811	35	29	263,231	82

Totals:	1296	294,441	587	584	264,957	77

Inventory Accumulation for the Last 12 Full Months


Current Inventory *	Inventory Volume	Current Average	Average Monthly Sales**	Inventory Accumulation ***
427	142,437,168	333,576	46	9

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices	Maximum Prices	Average Prices
Original List Price : $114,900	Original List Price: $889,900	Original List Price: $285,361
Sold Price : $109,000	Sold Price: $835,000	Sold Price: $264,957

Inventory Accumulation figures are only calculated when Report End Month is the current month

Market Statistics Criteria Used
Date Range:	2/2008 to 2/2009
Price Range:	$0 to $9,999,000
Property Category:	Residential
Area:	Mount Laurel Twp

South Jersey Home Sales and Inventory March ’09

Roxanne — Sun, 15 Mar 2009 20:57:58 +0000

The South Jersey home sales and inventory data is provided by Trend MLS as of March 15, 2009. The information includes residential home sales and listings that have been recorded in Trend MLS within Burlington, Camden, Gloucester, Mercer, and Salem Counties.

Burlington County Home Sales:

Current active listings: 3,745
February new listings: 724
Homes sold per month – 12 month average : 336
February units pending settlement: 245
February units sold: 215
Inventory accumulation: 11 months
Days on Market – 12 month average: 93
Average sold price YTD: $244,007

Camden County Home Sales:

Current active listings: 3,878
February new listings: 748
February units pending settlement: 285
February units sold: 246
Homes sold per month – 12 month average : 321
Inventory accumulation: 12 months
Days on Market – 12 month average: 84
Average sold price YTD: $185,736

Gloucester County Home Sales:

Current active listings: 2,376
February new listings: 488
February units pending settlement: 142
February units sold: 143
Homes sold per month – 12 month average : 200
Inventory accumulation: 11 months
Days on Market – 12 month average: 93
Average sold price YTD: $213,214

Mercer County Home Sales:

Current active listings: 2286
February new listings: 515
February units pending settlement: 196
February units sold: 126
Homes sold per month – 12 month average : 233
Inventory accumulation: 9 months
Days on Market – 12 month average: 87
Average sold price YTD: $300,308

Salem County Home Sales:

Current active listings: 607
February new listings: 88
February units pending settlement: 44
February units sold: 18
Homes sold per month – 12 month average : 31
Inventory accumulation: 19 months
Days on Market – 12 month average: 102
Average sold price YTD: $155,822

Trend MLS disclaimer: Information Deemed Reliable but Not Guaranteed.

Corzine’s NJ Budget Proposal: Tax Hikes and Rebates Cut

Roxanne — Wed, 11 Mar 2009 15:00:18 +0000

Corzine announced his budget proposal yesterday which has many NJ residents very upset and speaking out against the proposed changes. From the article in the Courier Post: Corzine’s budget seeks tax hikes, cut in rebates

Gov. Jon S. Corzine is proposing a $29.8 billion state budget for the upcoming fiscal year that includes tax hikes of more than $1 billion, including the suspension of most homeowners’ ability to deduct property taxes from their income taxes.

Corzine said the deep recession requires difficult choices, including ending property tax rebates for households with incomes over $75,000 and more than a half-dozen increases in taxes. He said the budget’s $7 billion structural deficit is addressed mostly through $4 billion in spending cuts and $2.2 billion in federal stimulus aid.

“Make no mistake: Because of where the world is right now, we must move in directions we might not otherwise choose,” Corzine said.

The tax changes include raising the tax rate on incomes over $500,000, taxing lottery winnings over $10,000, extending a 4 percent surcharge on corporate taxes, increasing cigarette taxes 12.5 cents a pack and boosting taxes on liquor and wine by 25 percent.

Most surprising was Corzine’s proposal to suspend, except for seniors, taxpayers’ ability next year to deduct their property taxes from their income taxes. The one-year move would cost taxpayers an estimated $400 million, the administration says.

Businesses will face an increase in payroll taxes:

Payroll taxes would be increased on businesses, despite deposits by the state and federal governments into the depleted unemployment fund. New Jersey will put in $150 million, not the $270 million announced last month. Corzine said it would take a deposit of $500 million or more to avoid a payroll tax increase but that the money being put in will help limit the increase.

State workers will have to contend with one of two scenarios:

Corzine said he wants to reduce personnel costs by $400 million by freezing state workers’ wages and furloughs throughout fiscal 2010. The alternative, he said, would be to lay off as many as 7,000 workers. College employees’ salaries would also be frozen.

A number of other tax hikes on various goods were also mentioned. In regards to the homeowner’s rebate cuts NorthJersey.com’s article posted this analysis:

Although many budget details had leaked in advance, the lost tax write-off caught many off guard. Corzine would remove the property tax deduction on income taxes for all but senior citizens, and eliminate property tax rebates for non-senior households making more than $75,000 a year. Non-senior households earning $50,000 to $75,000 would see their rebate check from last year slashed by a third. Last year’s program offered staggered rebates for households making up to $150,000.

That could translate into a double whammy for non-senior homeowners earning $75,000 to $150,000. They lose their rebate and hundreds of dollars from the deduction.

A homeowner earning $95,000, for example, would not only lose a $1,000-plus rebate. Scrapping the property tax deduction would take away another $350 or so, according to state figures.

“The loss of the deduction would make homeownership even harder for New Jersey residents who are struggling to make ends meet during this recession,” said Senate Minority Leader Tom Kean Jr., R-Union.

The revenue raised by eliminating the property tax deduction would help pay for the preserved rebates, Corzine said, adding that he wants to restore rebates to higher income families “as soon as the recovery of state revenues allows.”

If it passes would the unintended consequences be actually forcing stuggling homeowners into selling their homes (increasing inventory even more) or foreclosure which would then result in even less revenue generated for the state? These changes would also impact future home buyers ability to afford to purchase a home and as a result home sellers would be forced to reduce home prices further to make up for the additional tax expense for the state.

What are your thoughts on Corzine’s budget proposal?

Year to Date Housing Market Snapshot – Jan 2009

Roxanne — Wed, 18 Feb 2009 01:22:10 +0000

The housing market snapshot is provided by Trend MLS and includes home sales information for transactions recorded from January 1, 2009 through Jan. 31, 2009 within Burlington, Camden, Gloucester, Mercer, and Salem Counties.

Burlington County Single Family Home Sales:

Settled Units:

2007: 254
2008: 233 (2007/2008 change: -8.27%)
2009: 162 (2008/2009 change: -30.47%)

Average Settled Price:

2007: $330,000
2008: $275,000 (2007/2008 change: -16.67%)
2009: $257,000 (2008/2009 change: -6.55%)

Median Settled Price:

2007: $265,000
2008: $234,000 (2007/2008 change: -11.70%)
2009: $225,000 (2008/2009 change: -3.85%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.04%
2008: 91.26% (2007/2008 change: -1.91%)
2009: 88.69% (2008/2009 change: -2.82%)

Camden County Single Family Home Sales:

Settled Units:

2007: 353
2008: 272 (2007/2008 change: -22.95%)
2009: 159 (2008/2009 change: -41.54%)

Average Settled Price:

2007: $223,000
2008: $200,000 (2007/2008 change: -10.31%)
2009: $182,000 (2008/2009 change: -9.00%)

Median Settled Price:

2007: $192,000
2008: $191,000 (2007/2008 change: -0.52%)
2009: $175,000 (2008/2009 change: -8.38%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.96%
2008: 91.55% (2007/2008 change: -2.56%)
2009: 87.91% (2008/2009 change: -3.98%)

Gloucester County Single Family Home Sales:

Settled Units:

2007: 195
2008: 140 (2007/2008 change: -28.21%)
2009: 120 (2008/2009 change: -14.29%)

Average Settled Price:

2007: $247,000
2008: $222,000 (2007/2008 change: -10.12%)
2009: $215,000 (2008/2009 change: -3.15%)

Median Settled Price:

2007: $229,000
2008: $205,000 (2007/2008 change: -10.48%)
2009: $195,000 (2008/2009 change: -4.88%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.63%
2008: 92.05% (2007/2008 change: -1.69%)
2009: 89.09% (2008/2009 change: -3.22%)

Mercer County Single Family Home Sales:

Settled Units:

2007: 216
2008: 166 (2007/2008 change: -23.15%)
2009: 103 (2008/2009 change: -37.95%)

Average Settled Price:

2007: $294,000
2008: $401,000 (2007/2008 change: +36.39%)
2009: $323,000 (2008/2009 change: -19.45%)

Median Settled Price:

2007: $265,000
2008: $298,000 (2007/2008 change: +12.45%)
2009: $250,000 (2008/2009 change: -16.11%)

Average Percentage Settled Price was of Original Listing Price:

2007: 92.44%
2008: 89.90% (2007/2008 change: -2.75%)
2009: 89.74% (2008/2009 change: -0.18%)

Salem County Single Family Home Sales:

Settled Units:

2007: 43
2008: 30 (2007/2008 change: -30.23%)
2009: 16 (2008/2009 change: -46.67%)

Average Settled Price:

2007: $172,000
2008: $198,000 (2007/2008 change: +15.12%)
2009: $146,000 (2008/2009 change: -26.26%)

Median Settled Price:

2007: $154,000
2008: $182,000 (2007/2008 change: +18.18%)
2009: $135,000 (2008/2009 change: -25.82%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.30%
2008: 90.52% (2007/2008 change: -2.98%)
2009: 83.08% (2008/2009 change: -8.22%)

Burlington County Real Estate Market Update Jan 2009

Roxanne — Sun, 15 Feb 2009 14:58:57 +0000

The January 2009 Burlington County real estate market and activity reports for single family homes provided by Trend MLS. Graphs and figures compare the real estate sales activity from January 2000 to January 2009. Click each image to enlarge.

Notes on Statistics

All statistics are from TREND’s monthly Residential Activity Reports. Due to the fluid nature of MLS data, insignificant statistical variations may occur with regard to sales activity between the various TREND reports.
Mobile homes and condominiums are excluded from these statistics.
This report includes information on listings and transactions facilitated through TREND and does not reflect the total number of listings and transactions of a given market area.
All monetary statistics are rounded to the nearest $10.
Percent Change is the change in value as compared to the same month of the previous year. Indicated by +/-0.0%.

Burlington County - Single Family - Total Inventory
The number of active single-family listings on the market on the last day of the specified month.

YOY January Active Listings Comparison:

2008: 3,474
2009: 3,321 (-4.4%)

Burlington County – Single Family – Inventory Accumulation
The number of months it would take to exhaust the current supply of single-family listings at the current absorption rate.

YOY January Inventory Accumulation Comparison:

2008: 9.4 months
2009: 11.5 months (22.3%)

Burlington County – Single Family – Pending
The number of single-family listings with Pending dates during the specified month. Settlement could be scheduled that month or in the future.

YOY January Pending Contracts Comparison:

2008: 289
2009: 196 (-32.2%)

Burlington County – Single Family – Settled Units
The number of single-family listings with Settled dates during the specified month.

YOY January Settled Units:

2008: 233
2009: 162 (-30.5%)

Burlington County – Single Family – Median Settled Price
The median price that single-family listings settled for during the specified month. Determined by arranging all Settled Listings in numerical order by price and then selecting the middle value.

YOY January Median Settled Price:

2008: $234,000
2009: $225,000 (-3.8%)

Burlington County – Single-Family – Average Settled Price
The average price that single-family listings settled for during the specified month. Determined by dividing the Total Settled Volume by the number of Settled Listings.

YOY January Average Settled Price:

2008: $275,000
2009: $257,000 (-6.5%)

Burlington County – Single Family – Average Settled Price / Original Listing Price
The average percentage of the Original Price that single-family listings settled for during the specified month. This number is determined by dividing the Settled Price by the Original Price for every listing, summing them and then dividing by the number of settled listings. TREND excludes listings if the Settled Price is greater than 150 percent or less than 50 percent of the Original Price. This ensures the percentage is more representative of listings in the market area.

YOY January Average Percentage of Original List Price on Settled Units

2008: 91.3%
2009: 88.7% (-2.8%)

Senate Agrees to Add Home Buyer Tax Break

Roxanne — Thu, 05 Feb 2009 15:15:24 +0000

Update 2-15-09: Final Stimulus Bill passed in Congress and set to be signed by the President on Monday. Congress decided not to go forward with the Isakson Amendment and produced a modified version of the current tax break for first time homebuyers. From Winners and losers in the final stimulus bill :

Homebuyers: First-time homebuyers who purchase this calendar year get an $8,000 tax credit which does not have to be repaid like a similar measure last year. This phases out for people making more than $75,000 individually or $150,000 jointly. “First-time homebuyer” is defined as someone who has not owned a home for the past three years. Cost: $6.63 billion.

2/05/09 Wednesday evening the Senate unanimously approved by voice vote to add the Isakson Amendment to the stimulus package. The Isakson amendment would allow home buyers a tax credit of up to $15,000 on home’s purchased within the next year. From the article:

“We do have a history in this country with housing and it goes back to the crash of 1974, which actually in terms of inventory and price declines was comparable to what’s happening now,” Mr. Isakson said at a news conference.

“Within one year of the inception of that tax credit, two-thirds of the available inventory that was on the market was gone. The market moved back to a balanced inventory, values stabilized and things became very healthy. The only reason I know all of that is I was selling houses in 1974, that’s what I was doing to feed my family and make a living.”

The tax credit would give buyers 10 percent of the price of a primary residence bought within one year, up to $15,000, and is intended to stabilize plummeting home prices, which caused a wave of foreclosures and led to the near collapse of the financial system as Wall Street firms wrote down billions in mortgage-backed assets.

The Senate is hoping for the final vote on the Stimulus package to happen Thursday. The problem they have to contend with is the cost. President Obama had set a limit of $900 billion for the total package, and it is believed that with this addition along with others, the package well exceeds that figure. Now they will be deciding which aspects of the stimulus package will be cut for it to proceed.

South Jersey Real Estate Market Update 02-09

Roxanne — Mon, 02 Feb 2009 04:30:15 +0000

The following information is provided by Trend MLS as of February 1, 2009 for residential real estate listings available within Trend MLS.

Burlington County

Number of available properties: 3,546
January number of new listings: 747
12 month average number of homes sold per month: 338
January number of homes sold: 171
Inventory accumulation: 10 months
Average sold price YTD: $247, 757

Camden County

Number of available properties: 3,768
January number of new listings: 804
12 month average number of homes sold per month: 350
January number of homes sold: 154
Inventory accumulation: 10 months
Average sold price YTD: $183,523

Gloucester County

Number of available properties: 2,214
January number of new listings: 482
12 month average number of homes sold per month: 184
January number of homes sold: 117
Inventory accumulation: 12 months
Average sold price YTD: $213,796

Trend MLS disclaimer: Information may be revised at a later date, deemed reliable but not guarenteed and may be subject to errors or omissions.

The Magic Mushroom House

Roxanne — Thu, 22 Jan 2009 05:24:47 +0000

Featured in the New York Times, this 6,000 sq. ft home located in Aspen, Colorado was built over the course of serveral years beginning in 1973. Mr. Andre Ulrych, the house’s architect, builder, and first resident, said he took his design cues from a nautilis shell despite it’s nickname. The Magic Mushroom House was the nickname given to the home because of its appearance, decor, and the era in which it was built. 12 levels with platforms are in the home along with a number of ladders and narrow stairways. The property is now a vacation home for the current owners, Mr. and Mrs. Findlay. Check it out..

Photos by Michael Brands for The New York Times

You can read the full story No Home for Squares as well as see the slideshow of all the interior pictures.