Market Trends: Burlington County, September 2018
Foreclosure sales were down 31% on a year over year basis and were 15% of all September sales. Non-foreclosure sales were down 12.1% from last September. The median sold price was up 5.0% from last September. For the seventh straight month, New Bank Owned listings were down and were 41% lower than last September.
Inventory decreased by 82 listings during September, and is 17% below last year's inventory. The Months Supply of Inventory remained at 4.1 months, down from 5.0 months a year ago. The number of new listings was down 83 listings from last September, with new Bank Owned listings down 41% (46 listings) from last September.
Sales were 16.4% lower than last September but are up 4.7% year-to-date in 2018. Foreclosure sales, were down 31% from last September and are up just 0.8% for 2018. The Property Marketing Period of September's sales was 35 days, down from 46 days last September.
The median sold price was up 5.0% compared to last September and is up 4.5% year-to-date. The median sold price of non-foreclosure sales was up 0.1% from last September and is at $225,000 year-to-date compared to $222,000 last year, a 1.4% increase.
The sold price to original list price in September was at 96.4% and is 96.7% year-to-date. The sold price to list price ratio was at 98.1% up from 97.8% last September.