The following is some information in regards to the real estate market here in Delran. The data is through 3rd quarter 2008 (September) for all residential homes. This includes single family, condo's and townhomes.
The chart below shows the median sold prices over the past two years by month. While there have been ups and downs, overall, the median price has remained stable over time as shown by the trend line. Over this time period the median price is around $275k.
(click to enlarge)
The folowing chart shows the amount of homes that have sold per month over the past two years. Again, you'll see ups and downs based on the seasons and what has happend in the mortgage industry. Overall the trend line is pointing down but there were higher then normal spikes this past summer.
(click to enlarge)
As of September, there were 157 homes for sale which is the lowest it's been since the spring market but is still pretty high for Delran. We saw a peak of 178 in April which was the highest it's been in some time. Homes that are selling do so in an average of 3 months. Bottom line, for those trying to sell right now, pricing is key. There are many homes out there for buyers to choose from, so pricing, marketing and condition are major points to focus on.
If you want to learn more about real estate in South Jersey, please visit the South Jersey Real Estate Blog, or you can search homes for sale at South Jersey Homes.
Data deemed reliable but not gauranteed. Information from Prudential Fox & Roach AgentMetrics from 10/29/08
