Sometimes the data regarding the Moorestown real estate is revised depending on how quickly agents follow up with TREND MLS and post their sales to the real estate database. With this in mind here are some revised Moorestown real estate numbers for 2007.
I reported earlier that the average sale price for a Moorestown home during 2007 dropped about 1% versus 2006. This was revised down further to about 3.5%. This is a lower average sale price for Moorestown homes, but it still remains historically high from a total dollar point of view.
An additional revision was the number of transactions or homes sold in Moorestown for 2007 versus 2006. I reported earlier that the total number of homes sold in Moorestown rose by 14 units. This was also revised, but revised up to about 17 transactions.
Therefore, my point still remains true from my earlier Moorestown real estate blog entry that demand for Moorestown homes is up; however, the returns are flat to slightly down versus 2006. From my perspective, this is a supply story - buyers have more to select from so it is putting pressure on sellers regarding the pricing of their home.
Keep coming back to this blog to learn more about the Moorestown real estate market and local real estate trends. If you want a FREE consultation regarding your property and the impact the trends in your town will have on selling it please contact me. Or if you are preparing to buy a home and want a FREE workbook - “Preparing to Buy a Home” - please e-mail me your name and mailing address.
Happy house hunting and I look forwad to assisting you with your real estate questions.
Based on information from TREND MLS for December 1, 2006 to December 31, 2007
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