November 2016 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

 

BUCKS COUNTY

November 2016 is a Neutral market! The number of for sale listings was down 17% from one year earlier and down 9.9% from the previous month. The number of sold listings increased 28.9% year over year and increased 9.5% month over month. The number of under contract listings was down 32.7% compared to the previous month and down 14.1% compared to the previous year. The Months of Inventory based on Closed Sales is 4.4, down 35.2% from the previous year. The Average Sold Price per Square Footage was up 3.1% compared to the previous month and up 3.1% compared to last year. The Median Sold Price increased by 6.8% from last month. The Average Sold Price also increased by 11.5% from last month. Based on the 6 month trend, the Average Sold Price trend is “Neutral” and the Median Sold Price trend is “Neutral”. The Average Days on Market showed a upward trend, an increase of 4.5% compared to the previous year. The ratio of Sold Price vs. Original List Price is 94%, a decrease of 1.1% compared to the previous year.

BUCKS_MS

 

Property Sales (Sold)

November property sales were 450, up 28.9% from 349 in November of 2015 and 9.5% higher than the 411 sales last month.

 

Current Inventory (For Sale)

Versus last year, the total number of homes available this month is lower by 405 units of 17%. 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 9.9% compared to the previous month.

 

Property Under Contract (Pended)

There was a decrease of 32.7% in the pended properties in November, with 311 properties versus 462 last month. This month’s pended property sales were 14.1% lower than at this time last year.

 

HUNTERDON COUNTY

November 2016 is a Buyer’s market! The number of for sale listings was down 6.2% from one year earlier and down 7% from the previous month. The number of sold listings increased 28.6% year over year and decreased 35.7% month over month. The number of under contract listings was down 63.6% compared to the previous month and down 50% compared to the previous year. The Months of Inventory based on Closed Sales is 11.8, down 26.6% from the previous year. The Average Sold Price per Square Footage was up 8.4% compared to the previous month and down 11.3% compared to last year. The Median Sold Price increased by 6.5% from last month. The Average Sold Price also increased by 16% from last month. Based on the 6 month trend, the Average Sold Price trend is “Appreciating” and the Median Sold Price trend is “Appreciating”. The Average Days on Market showed a neutral trend, a decrease of 37.9% compared to the previous year. The ratio of Sold Price vs. Original List Price is 94%, was the same compared to the previous year.

 

Hunterdon_MS_Nov

 

Property Sales (Sold)

November property sales were 9, up 28.6% from 7 in November of 2015 and 35.7% lower than the 14 sales last month.

 

Current Inventory (For Sale)

Versus last year, the total number of homes available this month is lower by 7 units of 6.2%. 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 7% compared to the previous month.

 

Property Under Contract (Pended)

There was a decrease of 63.6% in the pended properties in November, with 4 properties versus 11 last month. This month’s pended property sales were 50% lower than at this time last year.

 

MERCER COUNTY

November 2016 is a Neutral market! The number of for sale listings was down 5.7% from one year earlier and down 9.2% from the previous month. The number of sold listings increased 22% year over year and increased 1% month over month. The number of under contract listings was down 18.1% compared to the previous month and down 6% compared to the previous year. The Months of Inventory based on Closed Sales is 5.4, down 22.8% from the previous year. The Average Sold Price per Square Footage was up 3.8% compared to the previous month and down 1.8% compared to last year. The Median Sold Price increased by 1.9% from last month. The Average Sold Price also increased by 3.5% from last month. Based on the 6 month trend, the Average Sold Price trend is “Neutral” and the Median Sold Price trend is “Neutral”. The Average Days on Market showed a upward trend, an increase of 14.6% compared to the previous year. The ratio of Sold Price vs. Original List Price is 93%, was the same compared to the previous year.

Mercer_MS_Nov

 

Property Sales (Sold)

November property sales were 200, up 22% from 164 in November of 2015 and 1% higher than the 198 sales last month.

 

Current Inventory (For Sale)

Versus last year, the total number of homes available this month is lower by 66 units of 5.7%. 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 9.2% compared to the previous month.

 

Property Under Contract (Pended)

There was a decrease of 18.1% in the pended properties in November, with 158 properties versus 193 last month. This month’s pended property sales were 6% lower than at this time last year.

 

BURLINGTON COUNTY

November 2016 is a Buyer’s market! The number of for sale listings was down 16.5% from one year earlier and down 5.5% from the previous month. The number of sold listings increased 18% year over year and decreased 10.9% month over month. The number of under contract listings was down 22.4% compared to the previous month and down 13.3% compared to the previous year. The Months of Inventory based on Closed Sales is 6.1, down 28.1% from the previous year. The Average Sold Price per Square Footage was down 5.6% compared to the previous month and down 8.5% compared to last year. The Median Sold Price decreased by 6.7% from last month. The Average Sold Price also decreased by 6.4% from last month. Based on the 6 month trend, the Average Sold Price trend is “Depreciating” and the Median Sold Price trend is “Depreciating”. The Average Days on Market showed a neutral trend, an increase of 6.4% compared to the previous year. The ratio of Sold Price vs. Original List Price is 93%, was the same compared to the previous year.

 

BULRINGTON_MS_Nov

 

Property Sales (Sold)

November property sales were 335, up 18% from 284 in November of 2015 and 10.9% lower than the 376 sales last month.

 

Current Inventory (For Sale)

Versus last year, the total number of homes available this month is lower by 400 units of 16.5%. 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 5.5% compared to the previous month.

 

Property Under Contract (Pended)

There was a decrease of 22.4% in the pended properties in November, with 294 properties versus 379 last month. This month’s pended property sales were 13.3% lower than at this time last year.

Posted on December 20, 2016 at 6:40 pm
Weidel Real Estate | Category: Market Summaries

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