The real estate activity in Westampton, NJ was much slower for March 2008 compared to March 2007.  There were 16 new listings in 2008 compared to 25 in 2007, which does help slow the pace of inventory accumulation since sales dramatically dropped.  The number of homes sold in 2007 was 13 for the month of March and in 2008 there were only 4 sales.  The number of homes going under contract also slowed with 8 properties contracted in 2008 compared to 16 properties which went under contract in 2007.

The median sales price for the properties sold in Westampton for the first quarter of the year was $282,500 based off of 11 properties sold year to date.  Sellers obtained, on average, 94% of their asking price.  The total number of properties listed Jan - March in 2008 was 57 compared to 81 in 2007 and 12 properties sold in 2008 compared to 25 properties sold in 2007.  Properties going under contract saw a decline as well in the year over year comparison: 35 contracted in 2007 vs. 15 contracted in 2008.