Market Trends: Burlington County, July 2018
Foreclosure sales were down 20% on a year over year basis and were 14% of all July sales. Non-foreclosure sales were up 11% from last July. The median sold price was up 2.4% from last July. For the fourth straight month, new Bank Owned listings were considerably lower. In July there were 96, down 9% from last July.
Inventory decreased by 101 listings during July, and is 21.5% below last year's inventory. The Months Supply of Inventory decreased to 4.0 months, and is down from 5.3 months a year ago. The number of new listings was down 75 listings from last July, with new Bank Owned listings down 9% from last July.
Sales were 5.4% higher than last July and are up 6.8% year-to-date in 2018. Foreclosure sales, were down 20% from last July but are still up 6.7% for 2018. The Property Marketing Period of July's sales was 30 days, down from 41 days last July.
The median sold price was up 2.4% compared to last July and is up 4.8% year-to-date. The median sold price of non-foreclosure sales was down 2.5% from last July but is at $222,000 year-to-date compared to $220,000 last year.
The sold price to original list price in July was at 97.0% and is 96.7% year-to-date. The sold price to list price ratio was at 98.3% up from 98.0% last July.