Market Trends: Burlington County, August 2018
Foreclosure sales were down 17% on a year over year basis and were 12% of all August sales. Non-foreclosure sales were up 10% from last August. The median sold price was up 3.3% from last August. New Bank Owned listings were 38% lower than last August.
Inventory decreased by 39 listings during August, and is 16% below last year's inventory. The Months Supply of Inventory increased to 4.1 months, but is down from 5.1 months a year ago. The number of new listings was up 14 listings from last August, with new Bank Owned listings down 38% (62 listings) from last August.
Sales were 5.1% higher than last August and are up 6.8% year-to-date in 2018. Foreclosure sales, were down 17% from last August but are still up 4.2% for 2018. The Property Marketing Period of August's sales was 33 days, down from 39 days last August.
The median sold price was up 3.3% compared to last August and is up 4.2% year-to-date. The median sold price of non-foreclosure sales was up 0.5% from last August and is at $225,000 year-to-date compared to $221,800 last year, a 1.4% increase.
The sold price to original list price in August was at 97.2% and is 96.8% year-to-date. The sold price to list price ratio was at 98.2% down from 98.3% last August.