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

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

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

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

Just The Facts for Moorestown Real Estate - The Slowing Market

February Real Estate Numbers for Moorestown
Moorestown Real Estate Data - February 2007 vs February 2008

Homes listed for sale: 57 vs 47
Homes sold: 21 vs 08
Days on market: 85 vs 103
Average sale price: $458,085 vs $562,875
Average list price: $685,364 vs $842,792

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 February 1, 2007 to February 29, 2008

Live Where You Work - Work Where You Live

As a local real estate agent I've noticed a desire of my clients to limit their commute. They want to get closer to where they live so they can spend more time with their family and become more a part of their local community. This doesn't surprise me given our busier lifestyles today and the higher costs associated with commuting. I know that is one of the perks of what I do... living where I work and working where I live.

If you are thinking about making a switch to this way of life here are a few commercial properties that are for lease in Moorestown, NJ to assist you in your efforts.

• 2 units located at 66 E. Main Street, Moorestown, NJ - 700 usable S.F. & 1500 usable S.F.
• 1 unit located at 101 W. Main Street, Moorestown, NJ - 3700 S.F.
• 4 units located at 214 W. Main Street, Moorestown, NJ - 300 usable S.F. up to 1100 usable S.F. available 

These properties provide various types of spaces.  Some are flexible and open while others have multiple offices and private entrances.  For specifics about these commercial rental spaces feel free to call me at the office 856-235-0101 x211 or please email me. I look forward to assisting you work closer to home.

Just The Facts for Moorestown Real Estate - Slower sales and rising supply

January Real Estate Numbers for Moorestown
Moorestown Real Estate Data - January 2007 vs January 2008

Homes listed for sale: 46 vs 47
Homes sold: 16 vs 08
Days on market: 112 vs 86
Average sale price: $647,343 vs $482,112
Average list price: $590,410 vs $853,740

The January numbers for the Moorestown real estate market are in and illustrate a lower demand for homes in Moorestown when you compare January 2007 to January 2008.

Since only 8 homes in Moorestown sold this January I thought I'd share which price ranges had activity.
2 Moorestown homes sold between $200,000 to $249,999. 1 of the houses had 3 bedrooms and the other Moorestown home had 4 bedrooms.
1 Moorestown home with 3 bedrooms sold between $250,000 to $299,999.
1 Moorestown townhouse with 3 bedrooms sold between $350,000 to $399,999.
1 Moorestown home with 4 bedrooms sold between $400,000 to $449,999.
1 Moorestown home with 4 bedrooms sold between $450,000 to $499,999.
1 Moorestown home with 4 bedrooms sold between $650,000 to $699,999.
1 Moorestown home with 4 plus bedrooms sold between $1,000,000 to $1,999,999.

Of course all these homes in Moorestown had varying features, sizes and conditions which play a part in determining the sale price.

Overall, the January numbers for the Moorestown real estate market show a slowing trend and with only 9 pended sales in January a slower February 2008 could be in store. With more homes coming on the market for the spring time buyers will be in a strong position once again, yet, if you are a buyer keep in mind if a home is priced right it will sell and may even get multiple offers.

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 January 1, 2007 to January 31, 2008