The Long & Foster Market Minute

FOCUS ON: BURLINGTON COUNTY HOUSING MARKET MAY 2024

Units Sold
427
Active Inventory
604
Median Sale Price
$387,500
Days On Market
27
Down -10%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 427 sold this month in Burlington County Real Estate versus 438 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 10% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 5%. The total number of active inventory this May was 604 compared to 638 in May 2023. This month's total of 604 is lower than the previous month's total supply of available inventory of 636, a decrease of 5%.

Median Sale Price
Last May, the median sale price for Burlington County Homes was $330,000. This May, the median sale price was $387,500, an increase of 17% or $57,500 compared to last year. The current median sold price is 5% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
623
Current Contracts
566
Sold Vs. List Price
102.4%
Months of Supply
1.4
Up 7%
Vs. Year Ago
Up 8%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 1.4 months of supply available in Burlington County. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 623 homes newly listed for sale in Burlington County compared to 580 in May 2023, an increase of 7%. There were 566 current contracts pending sale this May compared to 525 a year ago. The number of current contracts is 8% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Burlington County was 102.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 29, a decrease of 7%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.