Market Trends: Burlington County, January 2018
Foreclosure sales continue at a high rate and hit an all-time high of 133 this month, 28.5% of all January sales. Non-foreclosure sales were down 1.5% from last January and foreclosures were up 48%. The median sold price was down 1.4% from last January. New Bank Owned listings in January were 119 new listings, down from 143 last month, and down from 156 last January.
Inventory decreased by 62 listings during January, and is 12.8% below last year's inventory. The Months Supply of Inventory dropped to 4.0 months, and is down from 5.3 months a year ago. The number of new listings was down 89 (10.3%) from last January, new Bank Owned listings were down 37 from last January but remain at a high level.
Sales were 9.4% above last January, but foreclosure sales, which were up 48% from last January, accounted for much of the increase. The Property Marketing Period of January's sales was 48 days, down from 64 days last January.
The median sold price was down 1.4% compared to last January. The median sold price of non-foreclosure sales was up 1.5% from last January, but was down 4% from January 2016.
The sold price to original list price in January was at 95.5%. The sold price to list price ratio was at 97.8% up from 97.1% last January.