Market Trends: Burlington County, April 2018

Foreclosure sales were up 7% on a year over year basis and were 21% of all April sales. Non-foreclosure sales were up 17% from last April. The median sold price was up 11.7% from last April. New Bank Owned listings in April were at 102, the lowest level since October 2016, and down 27% from last April.

Inventory increased by 106 listings during April, but is still 15.3% below last year's inventory. The Months Supply of Inventory increased to 4.2 months, and is down from 5.1 months a year ago. The number of new listings were at the same level as last April, with new Bank Owned listings down 27% from last April.

Sales were 15.6% above last April and are up 10.0% year-to-date in 2018, but foreclosure sales, which were up 7% from last April and are up 16% for 2018, accounted for much of the increase. The Property Marketing Period of April's sales was 45 days, down from 77 days last April.

The median sold price was up 11.7% compared to last April and is up 5.1% year-to-date. The median sold price of non-foreclosure sales was up 10.3% from last April and is at $215,000 year-to-date compared to $200,000 last year.

The sold price to original list price in April was at 96.6% and is 96.1% year-to-date. The sold price to list price ratio was at 98.1% up from 97.5% last April.