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 Revaluation

It has been some time since Moorestown has gone through a complete revaluation – I believe back in the 1980s was the last time when the entire town's home assessments were recalculated.

So why a revaluation? Since it has been so long since our last revaluation the current assessments in the municipality are no longer uniform and representative of 100% of their true market value. Therefore, a revaluation fairly redistributes the necessary tax burden among all property owners based upon the true value of their property. Of course this was written into law as well so their is no way around it.

If you haven't heard... the Moorestown revaluation is completed. It appears Moorestown residents are now receiving them and are a hot topic around our office and the local coffee shops. One of my friends say their taxes actually stayed the same; however, another one of my Moorestown friends had their taxes go up by about $400. I have not received mine yet, but I look forward to reviewing it and appealing it if it wasn't valued properly.

By the way, rumor has it that Moorestown Township was inundated with calls from the first batch of reassessments mailed out so start your appeal process early.

If you have questions regarding your new assessed value and are considering an appeal, regardless if you are residential or commercial real estate owner, feel free to contact me. If for reason I cannot help you I will make sure I introduce you to someone who can. I look forward to answering your questions.

Here is the link to the company that Moorestown hired to do the revaluation and the posted values and sales values for your home - Appraisal Systems, Inc.

Best of luck!