Year to Date Housing Market Snapshot – Jan 2009

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%)