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    Market Trends: Burlington County, May 2014

    Burlington County saw a double-digit decrease in Settled Listings for the second month in a row with sales down 13.6% from May 2013. Year-to-date sales are down 2.9% from last year.


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    Residential activity in Burlington County

    Inventory (Single-Family)

    Total Inventory
    May 2014
    3,159
    May 2013
    2,951
        

    Inventory Accumulation
    May 2014
    9.1
    May 2013
    9.2
         
    With Inventory up 7.0% from last year while Inventory Accumulation is about the same, the the absorbtion rate of listings is clearly up from last year.

    Settled Listings (Single-Family)

    May Settled Listings
    May 2014
    337
    May 2013
    390
        

    Year-to-date Settled Listings
    May 2014
    1,393
    May 2013
    1,435
       
    After two straight months of double-digit decreases in year-over-year sales, year-to-date sales have begun to lag behind last year with sales down 2.9% through May.

    Median Price (Single-Family)

    May Median Price
    May 2014
    $205,000
    May 2013
    $219,000
         

    Year-to-date Median Price
    May 2014
    $205,000
    May 2013
    $210,000
         
    In May, Median Price was down 6.4% from last year, a pattern we've seen over the last several months. Year-to-date Median Price is down 2.4%.

    Settled Price / Original Price (Single-Family)

    May Settled Price / Original Price
    May 2014
    91.9%
    May 2013
    92.2%
        

    Year-to-date Settled Price / Original Price
    May 2014
    91.3%
    May 2013
    90.6%
        
    For the first time in over 2 years, there was a decrease in the Settled Price / Original Price ratio with the May number down 0.3%. Year-to-date, the ratio still remains ahead of last year.
    See even more statistics like these in the following reports:


    Average Showing Appointments Per Listing by Price Range

    All Listings
    3.3
    $0k - $99k
    8.6
    $100k - $199k
    2.7
    $200k - $299k
    3.0
    $300k - $499k
    2.6
    $500k +
    1.7
         
    In May, Burlington County listings priced between $0 and $99,999 showed an increase in appointment activity with appointments per listing rising from 7.8 to 8.6 since last month. Other price ranges remained relatively stable.
    See even more buyer activity in the following report:



    What's happening in TREND's Market?

    Much like April, we saw sales down about 8% from 2013 and prices about even with a year ago. However, seasonally adjusted sales were the highest so far this year. And over the past 3 months, March, April and May, we have seen the market gain strength each month. The spring market got off to a late start due to the winter weather, but is now gaining momentum.

    Check out this and more with Dave Davis, our resident statistics guru, as he looks at the numbers for May 2014.




    Settled Listings
    Category May 2013 May 2014 Change
    Residential 6,539 6,009 -8.1%
    Lots, Land and Farms 106 115 8.5%
    Multi-Family 191 148 -22.5%
    Commercial 162 142 -12.4%
    Median Price
    Category May 2013 May 2014 Change
    Residential $211,000 $212,000 0.5%
    Lots, Land and Farms $87,500 $65,000 -25.7%
    Multi-Family $140,500 $166,000 18.6%
    Commercial $85,750 $84,250 -1.8%


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    2 Comments
    1 - 2 of 2 Comments
    1
    TREND MLS
    6/17/2014 2:13 PM

    Pat,

    The Residential Activity Report provides market activity for specific townships or boroughs for a particular month. This statistical report details single-family home and condominium sales broken down by the number of bedrooms, price, days on market and type of financing.

    To access this report, click the MLS tab then hover over Statistics and select Residential Activity. Then, from the Date drop-down, choose the month and year of the report you would like to view. Choose the county from the County drop-town, then choose the township you would like to see from the Township drop-down, and click Report.

    For more information on viewing this report, type 2036 into the Online Support Center search bar at the top right of any screen in TREND.

    Kristin Benzinger
    TREND Communications

    Pat Philipps
    6/17/2014 12:08 PM

    Do you have the same stats listed above on individual towns within a County, specifically, Moorestown, Cinnaminson and Riverton?

    1 - 2 of 2 Comments
    1
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