The Long & Foster Market Minute

Focus On: Camden, Rosedale, and Lanning Square Housing Market March 2021

Zip Code(s): 08104, 08105, 08103 and 08102
Units Sold
33
Active Inventory
54
Median Sale Price
$84,000
Days On Market
36
Up
Vs. Year Ago
Down -62%
Vs. Year Ago
Up
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 33 sold this month in Camden, Rosedale, and Lanning Square Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 89 units or 62%. The total number of active inventory this March was 54 compared to 143 in March 2020. This month's total of 54 is lower than the previous month's total supply of available inventory of 64, a decrease of 16%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Camden, Rosedale, and Lanning Square Homes was $48,000. This March, the median sale price was $84,000, an increase of $36,000 compared to last year. The current median sold price is 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
37
Current Contracts
36
Sold Vs. List Price
99.4%
Months of Supply
1.6
Down -18%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up 4.1%
Vs. Year Ago
Down -67%
Vs. Year Ago

Months of Supply
In March, there was 1.6 months of supply available in Camden, Rosedale, and Lanning Square, compared to 4.9 in March 2020. That is a decrease of 67% 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 37 homes newly listed for sale in Camden, Rosedale, and Lanning Square compared to 45 in March 2020, a decrease of 18%. There were 36 current contracts pending sale this March compared to 26 a year ago. The number of current contracts is 38% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Camden, Rosedale, and Lanning Square was 99.4% of the average list price, which is 3.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 45, a decrease of 20%.

The Long & Foster Market Minute Camden, Rosedale, and Lanning Square are defined as properties listed in zip code/s 08104, 08105, 08103 and 08102 .
*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.