Palmyra Real Estate Market Update YTD 3/2008

Here’s the Palmyra Real Estate market update for March 2008. Pended units for March were down 13 and Sold units were down 7 compared 2007; listed units were down 1 versus 2007. This has led to a current inventory of 61 units. Palmyra has been averaging 9 units sold per month which means there is currently 6 months worth of inventory in Palmyra. This outperforms the overall Burlington County market, which has 10 months worth of inventory. Year to date listed units are down 13 (a 22% decrease), pended units are down 16 (a 69.6% decrease) and sold units are down 11 (a 57.9% decrease). See how this compares to the Burlington County Market.

Over the last 3 years the average number of units pended and sold in March was approximately 20 & 15 respectively. This March there were 5 units pended and 8 sold. These numbers indicate a market that is adding inventory faster than it can be absorbed. 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 3/2007-3/2008 numbers for listed, pended and sold units.

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 4/16/2008.