The Mount Laurel Real Estate outperformed the Burlington County market in 2007. Pended units for the year were down 151 and Sold units were down 112 when compared to 2006; listed units were also down by 169 units in the same period. This has led to a current inventory of 405 units. Mount Laurel has been averaging 65 units sold per month which means there is currently 6 months worth of inventory in Mount Laurel. This beats the overall Burlington County market, which has 8 months worth of inventory. An inventory accumulation rate of 6 months represents a fairly balanced market, especially given the time of year.
Mount Laurel has had average sale price of $280,669 which is 2.2% higher then the sold average in 2006. Burlington County's average sale price during the same period is basically flat at a 0.06% decrease.
What does all this mean? It means that Mount Laurel outperformed the Burlington County market and is in fact one of the most balanced markets within the county. How do you take advantage of this market? Whether you're buying or selling, your first step should be to enlist the guidance of a full time professional realtor who can help you reach your real estate goals and dreams.
The chart below provides you with the 2007 monthly numbers for listed, pended and sold units.
If you are thinking of selling or buying in the near future, please don't hesitate to contact me directly at 856-222-5829. Or you may always visit me on line for tons of useful tips and ideas at no cost or obligation to you. I look forward to helping you reach your Real Estate goals.