The Long & Foster Market Minute

Focus On: Moorestown, Riverton, and Palmyra Housing Market June 2021

Zip Code(s): 08057, 08077 and 08065
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 20%
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -65%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 91 sold this month in Moorestown, Riverton, and Palmyra Real Estate versus 72 last month, an increase of 26%. This month's total units sold was higher than at this time last year, an increase of 20% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 49 units or 29%. The total number of active inventory this June was 122 compared to 171 in June 2020. This month's total of 122 is higher than the previous month's total supply of available inventory of 115, an increase of 6%.

Median Sale Price
Last June, the median sale price for Moorestown, Riverton, and Palmyra Homes was $324,500. This June, the median sale price was $385,000, an increase of 19% or $60,500 compared to last year. The current median sold price is 5% lower than in May.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 48%
Vs. Year Ago
Up 2%
Vs. Year Ago
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Moorestown, Riverton, and Palmyra, compared to 2.3 in June 2020. That is a decrease of 40% 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 117 homes newly listed for sale in Moorestown, Riverton, and Palmyra compared to 79 in June 2020, an increase of 48%. There were 83 current contracts pending sale this June compared to 81 a year ago. The number of current contracts is 2% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Moorestown, Riverton, and Palmyra was 99.7% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 63, a decrease of 65%.

The Long & Foster Market Minute Moorestown, Riverton, and Palmyra are defined as properties listed in zip code/s 08057, 08077 and 08065.
*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.