The real estate market inventory firgures for each county within South Jersey are provided by Trend MLS as of this morning.  The inventory accumulation figures are based of the previous 12 month’s average sales divided into the current number of active listings.  The data provided is for residential listings only, and does not include commercial or multi-family sales data.  Data provided for Burlington County, Camden County, Gloucester County, Mercer County, and Salem County

Burlington County

Number of Listings:  4,183

Average number of sales per month:  380

Housing Inventory Accumulation:  11 months

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The number of homes sold within Gloucester County did decline in 2007, however the county overall experienced an increase in median sales price.  The number of listings increased compared to 2006, and the number of days on the market for sold properties increased as well.

2007 Gloucester County Housing Market Activity as per Trend MLS:

Number of Properties Sold: 3,206

Median Sold Price:  $224,000

Median Days on Market: 57

Average Sold Price received from Original Listing Price:  94.28%

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Residential real estate sales in Gloucester County averages to 255 homes sold per month over the last 12 full months.  As of this morning there are currently 2,356 properties on the market giving Gloucester County a 9 month inventory.   So far this month there has been 259 new listings coming on the market,  76 properties pended, and 103 homes sold with an average of 81 days on the market.

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The following South Jersey residential real estate listings and inventory data include the available listings and activity within Burlington, Camden, and Gloucester Counties as of this morning.  The information provided only includes listing information for Sept. 1st through Sept. 12th.

Burlington County Real Estate Listings and Activity:

Number of current active listings within Burlington County: 4340
Number of new listings so far this month:  337
Average number of homes sold per month (12 month average): 438
Inventory Accumulation:  9 months

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Home builders in South Jersey, and throughout the country, have continued to keep a watchful eye on the baby boomer generation.  As this population segment ages, home builders have tried to anticipate their lifestyle needs and wants and in response continue to construct new and improved 55 and over active adult communities. 

It is believed by the NAHB (National Association of Home Builders) that this market has not yet reached its potential according to the Aug. 13th news release.  Their belief is evidenced by the continuous construction of the 55 and over communities throughout the state and across the country.  Within the South Jersey area there are now numerous active adult age restricted communities available, along with a number of locations planned for new construction in the upcoming years. 

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The deadline for filing your New Jersey Homestead Rebate, previously known as the Fair Rebate Program, has been extended to October 31, 2007.  Home owners and tenants that are eligible may file to receive their homestead rebate.

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I did a post last year in April on the number of homes for sale throughout the Burlington, Camden, and Gloucester Counties.  You can see the April 2006 Inventory Update post as well as the post I did In May 2006, breaking down the real estate inventory by price range.  I thought it would be a good time to for us to take a look at where the real estate market stands today in comparison.  The numbers being used are for today May 3, 2007 and the inventory numbers for May 8th, 2006.

Burlington County
Current Inventory: 3926 (homes available for sale)
Last Year: 2096
12 Full Month Average of homes sold:475 per month
Last Year: 567 per month
Inventory Accumulation: 8 months
Last Year: 5 months

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