Marlton Real Estate Market Update YTD July 2008

Here’s the Marlton Real Estate market update for July 2008. Pended units for July were down 15 and Sold units were down 12 compared to July 2007; listed units were down by 34 units versus 2007. This has led to a current inventory of 458 units. Marlton has been averaging 44 units sold per month which means there is currently 10 months worth of inventory in Marlton. This outperforms the overall Burlington County market, which has 12 months worth of inventory. Year to date listed units are down 33 (a 3.5% decrease), pended units are down 91 (a 24.2% decrease) and sold units are down 103 (a 30.7% decrease). See how this compares to the Burlington County Market.

Over the last 3 years the average number of units pended and sold in July was approximately 60 & 81 respectively. This July, there were 44 units pended and 60 units sold. These numbers indicate a market that is adding inventory faster than it can be absorbed. The average Days on Market for the year is 77. If you see real estate as a long term investment, now is a great time to buy or “move-up” because the numbers are working in your favor.

What does all this mean? If you are thinking of buying or selling right now it’s important that you seek the advice of a full time professional realtor who can best advise you as to how to take advantage of this market.

The chart below provides you with the 7/2007-7/2008 numbers for listed, pended and sold units.

Below is a chart that shows the average list price and average sold price for Burlington County from 7/2007-7/2008. The average sold price is down 7.5% from July 2007 ($281,342) to July 2008 ($260,393).

If you are thinking of selling or buying in the near future, please don't hesitate to contact me directly at 856-222-5829. Or you may always visit me on line for tons of useful tips and ideas at no cost or obligation to you. I look forward to helping you reach your Real Estate goals.

*Market statistics as of 8/15/2008.