The Long & Foster Market Minute

Focus On: Mount Laurel, Ramblewood, and Maple Shade Housing Market March 2021

Zip Code(s): 08054 and 08052
Units Sold
96
Active Inventory
57
Median Sale Price
$215,000
Days On Market
29
Up 25%
Vs. Year Ago
Down -64%
Vs. Year Ago
No Change
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 96 sold this month in Mount Laurel, ramblewood, and Maple Shade Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 101 units or 64%. The total number of active inventory this March was 57 compared to 158 in March 2020. This month's total of 57 is lower than the previous month's total supply of available inventory of 74, a decrease of 23%.

Median Sale Price
Last March, the median sale price for Mount Laurel, ramblewood, and Maple Shade Homes was $215,000. This March, the median sale price was $215,000, which is similar compared to a year ago. The current median sold price is 6% higher 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
120
Current Contracts
123
Sold Vs. List Price
100.5%
Months of Supply
0.6
Up 28%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -71%
Vs. Year Ago

Months of Supply
In March, there was 0.6 months of supply available in Mount Laurel, Ramblewood, and Maple Shade, compared to 2.1 in March 2020. That is a decrease of 71% 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 120 homes newly listed for sale in Mount Laurel, Ramblewood, and Maple Shade compared to 94 in March 2020, an increase of 28%. There were 123 current contracts pending sale this March compared to 97 a year ago. The number of current contracts is 27% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Mount Laurel, Ramblewood, and Maple Shade was 100.5% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 41, a decrease of 29%.

The Long & Foster Market Minute Mount Laurel, Ramblewood, and Maple Shade are defined as properties listed in zip code/s 08054 and 08052.
*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.