Market Trends: Burlington County, May 2018

Foreclosure sales were up 3% on a year over year basis and were 18% of all May sales. Non-foreclosure sales were down 2.3% from last May. The median sold price was up 5.3% from last May. New Bank Owned listings in May were at 115, down 26% from last May.

Inventory increased by 19 listings during May, but is still 15.2% below last year's inventory. The Months Supply of Inventory increased to 4.3 months, and is down from 5.2 months a year ago. The number of new listings were slightly higher than last May, with new Bank Owned listings down 26% from last May.

Sales were 1.2% lower than last May but are up 7.7% year-to-date in 2018. Foreclosure sales, which were up 3% from last May and are up 14% for 2018, accounted for much of the increase. The Property Marketing Period of May's sales was 33 days, down from 38 days last May.

The median sold price was up 5.3% compared to last May and is up 5.0% year-to-date. The median sold price of non-foreclosure sales was up 1.0% from last May and is at $215,000 year-to-date compared to $209,000 last year.

The sold price to original list price in May was at 96.8% and is 96.4% year-to-date. The sold price to list price ratio was at 98.2% up from 98.1% last May.