I recently compiled the Hainesport Market Conditions report for 2005. Hainesport is one of the towns that took a down turn in median sales price in 2005. The median sales price is the midway point; it represents the figure that is halfway between the least expensive and most expensive home that is sold. An increase or decrease in the median sales price reflects where the buying activity in a market is taking place. It should be used as a refrence and not to determine appreciation or depreciation of house values in any market. With that being said, we are going to take a look at the market activity so you can see where the buyers are. The information I'm providing is from TrendMLS and includes listings and sales of all brokers that service the area.


Hainesport Real Estate Activity from Jan - April 2006:
Homes Listed: 67
Homes Sold: 24
Current Inventory (as of today): 37
12 Full Month Average: 6 sales per month
Inventory Accumulation: 6 months

 

Hainesport Real Estate Activity Jan - April 2005:
Homes Listed: 33
Homes Sold: 20

As you can see, the number of listings for the first four months of the year doubled with the buying activity staying close to the same. That means that there are quite a few home sellers wondering why their home isn't selling. Aside from the obvious answer, buyers have many more homes to choose from, the median price reflects the activity taking place in the lower price ranges.

  • Up to $300,000 from Jan - April:
    Listed 2006: 16 ....... Listed 2005: 19
    Sold 2006: 11 ....... Sold 2005: 9 

     

    Number of homes currently available: 7
    12 full month average: 2 sold per month
    Inventory Accumulation: 3 months

  • $301,000 - $500,000:
    Listed 2006: 21 ....... Listed 2005: 7
    Sold 2006: 11 ....... Sold 2005: 8

     

    Number of homes currently available as of today: 10
    12 full month average: 2 sold per month
    Inventory Accumulation: 5 months

  • $501,000 and Over Jan - April:
    Listed 2006: 30 ....... Listed 2005: 7
    Sold 2006: 2 ....... Sold 2005: 3

     

    Number of homes currently available as of today: 20
    12 full month average: 1 sold per month
    Inventory Accumulation: 20 months

As the data displays, the home buying activity is taking place in homes priced under $500,000 within Hainesport. Home sellers with houses priced over $500,000 have seen little buying activity so far in 2006. A 20 month inventory accumulation means that it will take 20 months to sell the current available homes, without taking into account any additional listings in this price range. In order to encourage more home buyers in this price range home sellers may have to start reducing their asking prices, offer more incentives to home buyers, and redesign their marketing strategies.

Use the following links to find more information on Hainesport Real Estate and Neighborhood information or to see all current homes for sale in Burlington County.

--Roxanne