This month Burlington County real estate saw an increase of 6% in homes sold compared to October 2012 with a total of 378 residential units sold in 2013 vs 355 sold in October 2012.
The active inventory in Burlington County for October 2013, which is the number of available homes for sale, was 3,153 homes. That is a decrease of 10% from October 2012, which had 3,488 available homes listed.
The median sales price for October 2013 was $200,000, which is down 7% from October 2012 which had a median sale price of $215,000. The median sale price is the middle sale price on any given date range, with the same number of properties sold above and below the price point. The sales do include single family homes, town homes and condos.
The average days on market for a listed properties was 99 in October 2013 compared to 123 days in October 2012.
The number of new listings in Burlington County increased 14% in Oct. 2013 with 651 homes coming onto the market compared to 569 new listings in October 2012.
Based on the rate of sales in Burlington County and the number of available homes for sale, there is 8.3 months supply of available properties. That figure is down 15% from a year ago, which continues to be good news for the housing market in this area.