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Palmyra, NJ Real Estate News

By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
If you're looking for a combination of space, amenities, location and convenience, you may wish to consider 1009 Garfield Ave in Palmyra. Located on a tree lined street of well kept homes just 2 blocks from a Park and less than a mile from the Shoppes at Cinnaminson, this home is an exceptional value. The kitchen has been updated and offers plenty of cabinet space as well as counter space.  Just about all of the windows have been replaced as well and there's a new water heater (1/09).  The bathroom has also been updated and features beautiful Pella windows.  The full basement is finished and offers a large family room, an office or extra bedroom, a laundry room and another bonus room for your arts and crafts or perhaps a workshop: you decide. The back yard is completely fenced in and ca...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
Here’s the Palmyra Real Estate market update for August 2008. Pended units for August were down 1 and Sold units were down 2 compared to August 2007; listed units were down 5 versus 2007.  This has led to a current inventory of 91 units.  Palmyra has been averaging 7 units sold per month which means there is currently 13 months worth of inventory in Palmyra.  This trails the overall Burlington County market, which has 12 months worth of inventory. Year to date listed units are down 36 (a 24.2% decrease), pended units are down 31 (a 54.4% decrease) and sold units are down 35 (a 66% decrease).  See how this compares to the Burlington County Market. Over the last 3 years the average number of units pended and sold in August was approximately 12 & 12 respectively.  This August there were 5 ...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
  Here’s the Palmyra Real Estate market update for July 2008. Pended units for July were down 5 and Sold units were down 11 compared to July 2007; listed units were up 1 versus 2007.  This has led to a current inventory of 90 units.  Palmyra has been averaging 7 units sold per month which means there is currently 11 months worth of inventory in Palmyra.  This outperforms the overall Burlington County market, which has 12 months worth of inventory. Year to date listed units are down 31 (a 23.9% decrease), pended units are down 30 (a 57.7% decrease) and sold units are down 34 (a 79.1% decrease).  See how this compares to the Burlington County Market. Over the last 3 years the average number of units pended and sold in July was approximately 13 & 15 respectively.  This July there were 9 un...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
  Here’s the Palmyra Real Estate market update for June 2008. Pended units for June were up 2 and Sold units were down 3 compared to June 2007; listed units were down 4 versus 2007.  This has led to a current inventory of 72 units.  Palmyra has been averaging 8 units sold per month which means there is currently 9 months worth of inventory in Palmyra.  This outperforms the overall Burlington County market, which has 11 months worth of inventory. Year to date listed units are down 32 (a 28.3% decrease), pended units are down 22 (a 47.8% decrease) and sold units are down 23 (a 63.9% decrease).  See how this compares to the Burlington County Market. Over the last 3 years the average number of units pended and sold in June was approximately 11 & 17 respectively.  This June there were 13 uni...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
  Here’s the Palmyra Real Estate market update for May 2008. Pended units for May were down 3 and Sold units were down 8 compared to May 2007; listed units were down 9 versus 2007.  This has led to a current inventory of 70 units.  Palmyra has been averaging 8 units sold per month which means there is currently 8 months worth of inventory in Palmyra.  This outperforms the overall Burlington County market, which has 11 months worth of inventory. Year to date listed units are down 28 (a 29.5% decrease), pended units are down 23 (a 67.7% decrease) and sold units are down 21 (a 72.4% decrease).  See how this compares to the Burlington County Market. Over the last 3 years the average number of units pended and sold in May was approximately 11 & 12 respectively.  This May there were 6 units p...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
  Here’s the Palmyra Real Estate market update for April 2008. Pended units for April were down 1 and Sold units were down 2 compared 2007; listed units were down 6 versus 2007.  This has led to a current inventory of 72 units.  Palmyra has been averaging 9 units sold per month which means there is currently 8 months worth of inventory in Palmyra.  This outperforms the overall Burlington County market, which has 11 months worth of inventory. Year to date listed units are down 19 (a 24.4% decrease), pended units are down 18 (a 60% decrease) and sold units are down 13 (a 50% decrease).  See how this compares to the Burlington County Market. Over the last 3 years the average number of units pended and sold in April was approximately 13 & 12 respectively.  This April there were 8 units pend...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
Here’s the Palmyra Real Estate market update for March 2008. Pended units for March were down 13 and Sold units were down 7 compared 2007; listed units were down 1 versus 2007.  This has led to a current inventory of 61 units.  Palmyra has been averaging 9 units sold per month which means there is currently 6 months worth of inventory in Palmyra.  This outperforms the overall Burlington County market, which has 10 months worth of inventory. Year to date listed units are down 13 (a 22% decrease), pended units are down 16 (a 69.6% decrease) and sold units are down 11 (a 57.9% decrease).  See how this compares to the Burlington County Market. Over the last 3 years the average number of units pended and sold in March was approximately 20 & 15 respectively.  This March there were 5 units pe...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
Here's the Palmyra Real Estate market update for February 2008. Pended units for the February were flat and Sold units were down 1 compared 2007; listed units were down 4 versus 2007.  This has led to a current inventory of 63 units.  Palmyra has been averaging 9 units sold per month which means there is currently 7 months worth of inventory in Palmyra.  This outperforms the overall Burlington County market, which has 9 months worth of inventory. Year to date listed units are down 12 (a 30.8% decrease), pended units are down 5 (a 31.3% decrease) and sold units are down 5 (a 50% decrease).  See how this compares to the Burlington County Market.Over the last 3 years the average number of units pended and sold in February was approximately 10 & 9 respectively.  This February there were 9 u...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
The Palmyra Real Estate market started 2008 by slightly outperforming how the Burlington County market performed as a whole.  Pended units for the January were down 5 and Sold units were down 4 compared 2007; listed units were  down 8 versus 2007.  This has led to a current inventory of 58 units.  Palmyra has been averaging 10 units sold per month which means there is currently 5 months worth of inventory in Palmyra.  This outperforms the overall Burlington County market, which has 9 months worth of inventoryOver the last 3 years the average number of units pended and sold in January was approximately 12 & 9 respectively.  This January, there were 7 units pended and 3 sold.  Obviously, sellers do not want to see a trend of fewer pended and sold units versus 2007.  However, the decrease ...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
The Palmyra Real Estate market receives a mixed review when compared to the Burlington County market as a whole for 2007.  Pended units were down 5 and Sold units were down 4 versus 2006.  Listed units were up by 13 in the same period.  This has led to a current inventory of 74 units.  Palmyra has been averaging 11 units sold per month which means there is currently 6 months worth of inventory in Palmyra.  This slightly outperforms the Burlington County market, which has 8 months worth of inventory. An inventory accumulation rate of 6 months represents a fairly balanced market given the time a year: leaning more towards buyers then sellers.Palmyra had an average sale price in 2007 of $203,410 which is 2.2% lower then the sold average for 2006.  Burlington County's average sale price com...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
The Palmyra Real Estate market is closely following how the Burlington County market is performing as a whole.  While Pended units through September are even and Sold units are also even versus the same period in 2006; listed units are up by 24 units in the same period.  This has led to a current inventory of 96 units.  Palmyra has been averaging 11 units sold per month which means there is currently 8 months worth of inventory in Palmyra.  This outperforms Burlington County, which has 10 months worth of inventory. An inventory accumulation rate of 8 months I think is a good representation of a balanced market. Year to date through September, Palmyra has an average sale price of $204,993 which is 1.45% lower then the sold average in 2006.  Burlington County has seen a 0.97% increase in ...
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