December Real Estate Numbers for Moorestown
Moorestown Real Estate Data - December 2006 vs December 2007
Homes listed for sale: 23 vs 14
Homes sold: 12 vs 22
Days on market: 60 vs 74
Average sale price: $559,825 vs $444,149
Average list price: $625,452 vs $753,371
These real estate numbers for Moorestown are not typos. Yes we almost doubled the number of units sold in Moorestown this December versus last December. And just as important is the number of homes listed for sale -- it is down versus December 2006.
Yet for the doom and gloom people out there you will point out the average sale price and say that it is down almost $100,000 when you compare 12/2006 to 12/2007. Yes, it is down a lot, but remember as I have mentioned in the past you must also look at your local annual trends and not rely solely on the specific monthly trends. When we do that type of review you will see that the prices for Moorestown in 2007 were relatively flat versus 2006 as a whole. For those interested in a specific stat you can tell your friends that the average sold price was down about 1% while the number of transactions were up by 14 units for 2007. As a percentage these 14 units translate into a 6% rise in the total number of units sold in Moorestown.
This indicates to me that the demand remains strong for Moorestown homes when they are priced correctly. For those that bought three to five years ago that means you can ring in the New Year with your gains still intact.
For those that are on my mail list I will be following up this blog entry with my year in review letter. I will send this letter shortly to your home or place of business and then follow that letter with my Quarterly letter updating you on "Just the Facts" in Moorestown real estate. If you do not receive this letter and you would like to please contact me and provide me with your name and mailing address.
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 December 1, 2006 to December 31, 2007
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