4th quarter sales results in Marlton continue to follow some perplexing patterns. The number of successful transactions continued to follow a declining trend with only 89 properties sold during the quarter versus 136 for the same period last year. At the same time the average sale price remained basically flat compared to last year with an approximate increase of only $100 (at $257,729) Marlton sellers have seemed determined to wait it out to get as close to their asking price as possible at the risk of an even longer amount of time on the market (the average having crept up to 105 days for sold properties) or worse, letting them expire without a successful sale. We continue to be in a strong buyers market, but Marlton sellers seem unwilling to believe that assessment. In 2009, their were 53 listings that expired during the quarter versus 136 sold properties. In 2010, that number grew to 85 listings versus only 89 sold properties. This pattern has been ongoing through 2010 and seems to have finally caused a change in overall market conditions with an almost 25% drop in the number of new listings coming to market during the first 2 months of this year versus the beginning of 2010. Even though there were some more encouraging results in other parts of Burlington County during the quarter, I expect that Marlton will remain fairly stagnant moving into the first part of Spring. For now, it appears that many Marlton homeowners are content to stay where they are rather than accept less than optimal prices for their homes.
My name is Keith Kruger and I'm YOUR local real estate resource. I specialize in residential investment and commercial property in South Jersey and Philadelphia with a special emphasis on historical properties. I also work with buyers and sellers in my hometown of Marlton, Cherry Hill and Mt Laurel, New Jersey as well as surrounding areas.
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