July Market Summaries

 

July Market Summaries By County

Stay on top of trends by reviewing the latest market developments in your county below!  

Buyer's market: more than 6 months of inventory based on closed sales
Seller's market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales

 

Mercer County Overview

Mercer County is currently a Neutral Market:

Property Sales (Sold)
July property sales were 311, up 4% from 299 in July of 2015 and 1.3% lower than the 315 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of homes available this month is lower by 51 units of 3.6%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. The number of current inventory is down 2.3% compared to the previous month.
 
Property Under Contract (Pended)
There was a decrease of 14.4% in the pended properties in July, with 214 properties versus 250 last month. This month's pended property sales were 4.9% lower than at this time last year.

Bucks County Overview

Bucks County is currently a Neutral Market:

Property Sales (Sold)
July property sales were 546, down 20.3% from 685 in July of 2015 and 16.8% lower than the 656 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of homes available this month is lower by 541 units of 18.6%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. The number of current inventory is down 5.1% compared to the previous month.

Property Under Contract (Pended)
There was a decrease of 31.6% in the pended properties in July, with 394 properties versus 576 last month. This month's pended property sales were 28.1% lower than at this time last year.

Burlington County Overview

Burlington County is currently a Neutral Market:

Property Sales (Sold)
July property sales were 434, down 10.1% from 483 in July of 2015 and 23.6% lower than the 568 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of homes available this month is lower by 323 units of 12.3%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. The number of current inventory is down 2.2% compared to the previous month.

Property Under Contract (Pended)
There was a decrease of 17.2% in the pended properties in July, with 386 properties versus 466 last month. This month's pended property sales were 7.9% lower than at this time last year.

Hunterdon County Overview

Hunterdon County is currently a Neutral Market:

Property Sales (Sold)
July property sales were 187, up 10% from 170 in July of 2015 and 7.4% lower than the 202 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of homes available this month is lower by 64 units of 5.6%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. The number of current inventory is down 1.2% compared to the previous month.
 
Property Under Contract (Pended)
There was a decrease of 3.1% in the pended properties in July, with 158 properties versus 163 last month. This month's pended property sales were 1.9% lower than at this time last year.

 

Posted on July 5, 2016 at 2:15 pm
Weidel Real Estate | Category: Market Summaries

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