We are taking a closer look at the residential market activity for Burlington County in each price range over the last 12 full months. These figures are taken from a report generated by Trend MLS from Jan 2005 to Dec 2005. Current inventory is for today 1/14/06. I am posting the break down for December 2005 so we can track how the market progresses each month in 2006.
Homes listed at $1 million + :
There were 119 homes listed, with 28 homes sold, the average days on market is 119. The average number of homes sold per month in this price range is 2. As of today the number of homes available is 52, that gives us an inventory of 26 months.
- Strong Buyers Market
Homes listed at $700k to $999k
A total of 334 residential properties listed, with 134 sold, and the average days on market is 91. The number of homes sold per month averaged to 11 sales. Today we are showing 110 properties currently available, that gives us an inventory of 10 months.
- Buyers Market
Homes listed at $500k to $699K
There were 723 homes listed, with 369 sold, and the average days on market is 76. The average number of homes sold per month was 31. We are showing 186 homes currently available as of today, which gives us an inventory of 6 months
- Balanced Market
Homes listed at $300k to $499k
There were 2838 properties listed, with 1725 sold, and the average days on market is 54. The average number of homes sold per month was 143. There are 644 homes currently available as of today, which gives us an inventory of 4.5 months.
- Seller's Market leaning towards Balanced
Homes listed at $150k to $299k
There were 5764 residential listings, with 4254 sold, and the average days on market is 47. The average of homes sold per month 354. As of today Trend is showing 1049 available properties, which gives us an inventory of 3.0 months.
- Seller's Market
Homes listed up to $149K
There were 1099 properties listed, with 1021 sold, and the average days on the market is 41. The average monthly sales was 85. The currently available number of homes is 148 as of today, which gives us an inventory of 1.7 months.
- Strong Seller's Market
This information is based on reports from Trend MLS for the dates specified. The figures include all residential real estate activity by Trend participants. Transactions handled outside of Trend, such as private sales, are not included. Data may change daily depending on market activity.
Since the averages can change significantly in any given month, I will be running these reports on a pretty regular basis so future home sellers and home buyers are aware of the market conditions in Burlington County.