To get the latest Moorestown, NJ market data - Just the Facts
Sunday, February 24, 2013
Monday, June 29, 2009
Moorestown Real Estate Sales Volume Cut in Half
During the month of May we saw a sharp decline in the Sold Volume for homes in Moorestown, NJ. During May 2008 the dollar amount of homes sold in Moorestown was $11,852,200. In May 2009 the dollar amount of homes sold in Moorestown, NJ was cut by almost 50% to $6,548,499. Obviously this is a significant drop, but thankfully we also saw a smaller drop on a percentage basis (approximately 20% or $8,000,000) in the dollar amount of homes listed for sale in Moorestown, NJ. All-in-all it has been a down year for real estate across the country, but it appears to be stabilizing in Moorestown. (Statistics are from Trend MLS)
The people that want to sell to move up into a larger home see this as an opportunity to take advantage of historically low interest rates and reduced sale prices especially at the higher end of the market. This is creating an incentive for them to adjust their prices down to sell their homes. Once a few of the homes sell it will create a domino effect in Moorestown, NJ and for a few lucky Sellers who have adjusted their prices down it will create a situation where they will have multiple offers to consider. A significant switch from January of 2009.
For the first time homebuyers they want to take advantage of the historically low interest rates and the $8000 tax credit prior to December. There is plenty of supply in Moorestown, NJ for the first time homebuyer and with a great school system it should always be on the list of towns to consider.
If you want more information regarding the type of buyers for homes in Moorestown or the surrounding areas please contact me.
The people that want to sell to move up into a larger home see this as an opportunity to take advantage of historically low interest rates and reduced sale prices especially at the higher end of the market. This is creating an incentive for them to adjust their prices down to sell their homes. Once a few of the homes sell it will create a domino effect in Moorestown, NJ and for a few lucky Sellers who have adjusted their prices down it will create a situation where they will have multiple offers to consider. A significant switch from January of 2009.
For the first time homebuyers they want to take advantage of the historically low interest rates and the $8000 tax credit prior to December. There is plenty of supply in Moorestown, NJ for the first time homebuyer and with a great school system it should always be on the list of towns to consider.
If you want more information regarding the type of buyers for homes in Moorestown or the surrounding areas please contact me.
Saturday, May 30, 2009
Moorestown Homes are Affordable
Did You Know?
70% to almost 90% of all homes sold in Moorestown since 2003 were $699,999 or less. Buying a home in Moorestown is possible in all price ranges.*
$0 to $699,999
2003 = 88.50%
2004 = 79.80%
2005 = 75.41%
2006 = 70.27%
2007 = 74.68%
2008 = 76.19%
2009 = 80.56%
*Statistics are from Trend MLS.
If you want more information regarding the demand for homes in Moorestown by price range please contact me.
70% to almost 90% of all homes sold in Moorestown since 2003 were $699,999 or less. Buying a home in Moorestown is possible in all price ranges.*
$0 to $699,999
2003 = 88.50%
2004 = 79.80%
2005 = 75.41%
2006 = 70.27%
2007 = 74.68%
2008 = 76.19%
2009 = 80.56%
*Statistics are from Trend MLS.
If you want more information regarding the demand for homes in Moorestown by price range please contact me.
Tuesday, July 8, 2008
Just The Facts for Moorestown Real Estate - On the Right Track
June Real Estate Numbers for Moorestown
Moorestown Real Estate Data - June 2007 vs June 2008
Homes listed for sale: 48 vs 37
Homes sold: 28 vs 25
Days on market: 86 vs 110
Average sale price: $627,996 vs $597,148
Average list price: $660,608 vs $570,127
The first 6-months are now behind us and what a challenging period it has been for the real estate market. In Moorestown we have seen our ups and downs, but they are not as pronounced as some other towns in Burlington and Camden Counties. For that matter even other parts of the country. As you can see by the numbers we had fewer homes listed for sale in June then we did last year. This is good news for the overall supply of homes since the new construction market has practically disappeared in town. Demand for homes was relatively flat to slightly down while the days to sell a home continue to trend up. These three trends combined with the realignment of pricing continues to indicate our home market is getting back to normal, but is still at a fragile state. As a Seller continue to price your home accurately in a changing market and understand there is still plenty of supply (as of 7/5/2008 there were 213 homes for sale in Moorestown and an inventory accumulation of 14). As a Buyer realize that if a home is priced accurately there are people out there looking to purchase and it just might sell by the time you think the market has hit the bottom.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for June 1, 2007 to June 30, 2008
Moorestown Real Estate Data - June 2007 vs June 2008
Homes listed for sale: 48 vs 37
Homes sold: 28 vs 25
Days on market: 86 vs 110
Average sale price: $627,996 vs $597,148
Average list price: $660,608 vs $570,127
The first 6-months are now behind us and what a challenging period it has been for the real estate market. In Moorestown we have seen our ups and downs, but they are not as pronounced as some other towns in Burlington and Camden Counties. For that matter even other parts of the country. As you can see by the numbers we had fewer homes listed for sale in June then we did last year. This is good news for the overall supply of homes since the new construction market has practically disappeared in town. Demand for homes was relatively flat to slightly down while the days to sell a home continue to trend up. These three trends combined with the realignment of pricing continues to indicate our home market is getting back to normal, but is still at a fragile state. As a Seller continue to price your home accurately in a changing market and understand there is still plenty of supply (as of 7/5/2008 there were 213 homes for sale in Moorestown and an inventory accumulation of 14). As a Buyer realize that if a home is priced accurately there are people out there looking to purchase and it just might sell by the time you think the market has hit the bottom.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for June 1, 2007 to June 30, 2008
Thursday, June 12, 2008
Just The Facts for Moorestown Real Estate - Making Up Ground
May Real Estate Numbers for Moorestown
Moorestown Real Estate Data - May 2007 vs May 2008
Homes listed for sale: 61 vs 59
Homes sold: 16 vs 26
Days on market: 138 vs 93
Average sale price: $603,562 vs $456,234
Average list price: $655,006 vs $729,106
I get asked are we at the bottom of the real estate correction fairly often. Of course this is very difficult to do. One may call a bottom, but in reality it could be a fools rally. Well, I maybe a fool, but I do believe we are getting close to the bottom. The only challenge I do see on the horizon is the employment rate and shrinking bonuses usually awarded to employees. The combination will continue to stall the economy and potentially allow other issues to surface such as a slower Commercial real estate market and a second round of mortgage issues. Thankfully in Moorestown our lows are never as bad as those in other towns given our strong school system, few development opportunities and a higher than average income level.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for May 1, 2007 to May 30, 2008
Moorestown Real Estate Data - May 2007 vs May 2008
Homes listed for sale: 61 vs 59
Homes sold: 16 vs 26
Days on market: 138 vs 93
Average sale price: $603,562 vs $456,234
Average list price: $655,006 vs $729,106
I get asked are we at the bottom of the real estate correction fairly often. Of course this is very difficult to do. One may call a bottom, but in reality it could be a fools rally. Well, I maybe a fool, but I do believe we are getting close to the bottom. The only challenge I do see on the horizon is the employment rate and shrinking bonuses usually awarded to employees. The combination will continue to stall the economy and potentially allow other issues to surface such as a slower Commercial real estate market and a second round of mortgage issues. Thankfully in Moorestown our lows are never as bad as those in other towns given our strong school system, few development opportunities and a higher than average income level.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for May 1, 2007 to May 30, 2008
Just The Facts for Moorestown Real Estate - Finding the Bottom
April Real Estate Numbers for Moorestown
Moorestown Real Estate Data - April 2007 vs April 2008
Homes listed for sale: 55 vs 58
Homes sold: 26 vs 14
Days on market: 69 vs 177
Average sale price: $580,523 vs $569,471
Average list price: $728,756 vs $658,603
Given the spike in days on market and the growing supply the bottom is not yet here, but we are getting close.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for April 1, 2007 to April 30, 2008
Moorestown Real Estate Data - April 2007 vs April 2008
Homes listed for sale: 55 vs 58
Homes sold: 26 vs 14
Days on market: 69 vs 177
Average sale price: $580,523 vs $569,471
Average list price: $728,756 vs $658,603
Given the spike in days on market and the growing supply the bottom is not yet here, but we are getting close.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for April 1, 2007 to April 30, 2008
Just The Facts for Moorestown Real Estate - A Down First Quarter
March Real Estate Numbers for Moorestown
Moorestown Real Estate Data - March 2007 vs March 2008
Homes listed for sale: 53 vs 47
Homes sold: 26 vs 08
Days on market: 84 vs 105
Average sale price: $475,426 vs $526,250
Average list price: $585,508 vs $633,856
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for March 1, 2007 to March 31, 2008
Moorestown Real Estate Data - March 2007 vs March 2008
Homes listed for sale: 53 vs 47
Homes sold: 26 vs 08
Days on market: 84 vs 105
Average sale price: $475,426 vs $526,250
Average list price: $585,508 vs $633,856
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. Or if you want a FREE consultation regarding your property and the impact the trends will have on selling it please contact me.
Based on information from TREND MLS for March 1, 2007 to March 31, 2008
Subscribe to:
Posts (Atom)