The Long & Foster Market Minute

Focus On: Burlington, Florence, and Roebling Housing Market March 2021

Zip Code(s): 08016, 08518 and 08554
Units Sold
45
Active Inventory
49
Median Sale Price
$190,000
Days On Market
34
Down -22%
Vs. Year Ago
Down -71%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -42%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 45 sold this month in Burlington, Florence, and Roebling Real Estate versus 50 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 22% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 121 units or 71%. The total number of active inventory this March was 49 compared to 170 in March 2020. This month's total of 49 is lower than the previous month's total supply of available inventory of 76, a decrease of 36%.

Median Sale Price
Last March, the median sale price for Burlington, Florence, and Roebling Homes was $212,500. This March, the median sale price was $190,000, a decrease of 11% or $22,500 compared to last year. The current median sold price is 14% lower than in February.

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


New Listings
67
Current Contracts
84
Sold Vs. List Price
101.1%
Months of Supply
1.1
Down -14%
Vs. Year Ago
Up 53%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -63%
Vs. Year Ago

Months of Supply
In March, there was 1.1 months of supply available in Burlington, Florence, and Roebling, compared to 2.9 in March 2020. That is a decrease of 63% versus 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 67 homes newly listed for sale in Burlington, Florence, and Roebling compared to 78 in March 2020, a decrease of 14%. There were 84 current contracts pending sale this March compared to 55 a year ago. The number of current contracts is 53% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Burlington, Florence, and Roebling was 101.1% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 59, a decrease of 42%.

The Long & Foster Market Minute Burlington, Florence, and Roebling are defined as properties listed in zip code/s 08016, 08518 and 08554.
*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.