Mount Laurel Real Estate Value Market Update: October 2011

In South Jersey, one of the more exclusive towns to live in is Mount Laurel, New Jersey.  From the blue ribbon school districts to the friendly communities, many families in South Jersey choose to relocate to this local town.

Mount Laurel – A Overall Snapshot

Today, Trulia released a great market report commenting on the trends in Mount Laurel over the last few months.  Information like this is great so that as a buyer or a seller, you can understand home value.  In the past few years, many towns in South Jersey have come down in market value, making the market a true buyers market in 2011.  With rates dipping into the high 3%’s, an increase in inventory, and many sellers offering seller concessions, it is no wonder why so many renters have decided to purchase real estate this year.  For the buyers that have been sitting on the fence about whether or not to buy that condo or home in Mount Laurel, 2011 may be the year for you to become a homeowner.

Mount Laurel – Market Overview 2011

As mentioned previously, Trulia, did put out a great report about the current trends in Mount Laurel today.  For the last week in September of 2011, the average listed price for homes in Mount Laurel was $258,080 and over the last 3 months,  the average sale price was $232,750.  Although this is a little bit of a dip, it is a great time for buyers considering making a purchase in the final quarter of 2011.   Also, the inventory for Mount Laurel, New Jersey is 538 homes currently for sale, with 220 homes that have recently sold.  It seems according to the reports, that the most stable markets continue to be Mount Laurel, Medford and Moorestown, New Jersey.

Mount Laurel – Distressed Properties

Of course, in today’s market, there are some distressed properties in South Jersey.  Distressed properties include Short Sales, Foreclosures, REO and HUD properties.  These distressed homes come to market because a homeowner can no longer afford to pay the mortgage due to some financial hardship.  In Mount Laurel, it appears as if the number of these properties is quite low, at 47 total.  Compared to 538 total homes for sale as of today, that is just a small portion.  If you are a homeowner in Mount Laurel, who might need more information on if you qualify for a short sale, please visit this informative website.

 

Article Provided by Jessica Holtzman, 2011

www.JessicaHoltzman.com

Email: Jessica@JessicaHoltzman.com

 

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