In August the number of foreclosure sales dropped to 108, but were 16% of all August sales, a continuation of the trend over the last year. The median sold price was down 2.7% ($5,950) from last August. There were 158 new Bank Owned listings in August, up 17 from last August, so foreclosure sales will continue to have an impact on the Burlington housing market for the foreseeable future.Inventory decreased by 167 listings during August, and is 7.0% below last year's inventory. Due to the decline in inventory the Months Supply of Inventory dropped to 5.3 months, and is down from 6.1 months a year ago. The number of new listings was up by 64 listings from last August, but new Bank Owned listings were up 41 from last August so foreclosure sales will continue to have an impact on the Burlington housing market for the foreseeable future.Sales were 6.6% above last August and are up 11.4% YTD in 2017. Foreclosure sales showed some improvement, but were still up 33% from last August. The Property Marketing Period of August's sales was 38 days, down from 50 days last August.The median sold price was down 2.7% compared to last August and is down 3.5% YTD. The median sold price of non-foreclosure sales was down 2.8% from last August and is at $222,200 YTD, down from $223,000 in 2016.The sold price to original list price in August was at 96.4% and is 96.1% YTD. The sold price to list price ratio was at 98.3% up from 97.7% last August.For more information Burlington County Market Trends Courtesy of: Trend MLS
