Market Trends: Burlington County, October 2018
Foreclosure sales were down 27% on a year over year basis and were 16% of all October sales. Non-foreclosure sales were down 7.5% from last October. The median sold price was down 1.6% from last October. For the eighth straight month, New Bank Owned listings were down from the previous year and were 30% lower than last October.
Inventory decreased by 145 listings during October, and is 17% below last year's inventory. The Months Supply of Inventory declined to 3.9 months, down from 4.9 months a year ago. The total number of new listings was equal to last October, despite new Bank Owned listings being down 30% from last October.
Sales were 12.2% lower than last October but are up 3.4% year-to-date in 2018. Foreclosure sales, were down 27% from last October and are now down for 2018 by 2%. The Property Marketing Period of October's sales was 37 days, down from 43 days last October.
The median sold price was down 1.6% compared to last October but is still up 3.6% year-to-date. The median sold price of non-foreclosure sales was the same as last October ($219,900) and is at $225,000 year-to-date compared to $221,500 last year, a 1.6% increase.
The sold price to original list price in October was at 96.5% and is 96.7% year-to-date. The sold price to list price ratio was at 98.1% down from 98.3% last October.