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Delran Real Estate - Market Updates
Here is an update on what's going on with Delran residential real estate. Delran is located in Burlington County, minutes from the Betsy Ross & Ben Franklin Bridges leading into Philly. More information on Delran can be found on the Delran Community Website. Click for detailed listing of '07 Delran Home Sales 2007 Delran Year in Review 2007 surely was an interesting year in Delran. While we saw prices drop in certain areas of town, for the most part, home prices in Delran remained rather stable. In fact, if you look at the average price for the entire year, it actually moved up! That's right, I said up. In 2006 the average price was about $282k compared to $288k in 2007. This just goes to show that Real Estate truly is local and a broad statement of "prices are dropping" may not always be true. Even though prices remained stable, the amount of people out there buying sure did drop. We saw a decrease of about 30% in the number of homes sold this past year. In 2007, 159 homes sold compared to 228 homes in 2006. With a decrease in the amount of buyers, homes were also on the market longer, but not by much. Homes that did sell in 2007 sold in an average of 75 days, about 2 1/2 months. This is compared to 58 days in 2006, just under 2 months. What will 2008 bring? Only time will tell. Interest rates are very low right now, so for those who qualify, loans are a little more affordable then last year. I'm curious if prices will remain stable in Delran or will we see more homeowners drop prices to make their home stand out from the competition. I believe one of the reasons home prices have remained stable is because Delran has gained in popularity with potential home buyers. When compared to area towns like Moorestown, Mt. Laurel & Marlton, home prices in Delran are much more attractive. Thinking of buying or selling? Not sure if now is the right time for you? Please contact me, a REALTOR® who lives in town, and let's discuss your goals and work out a plan to meet your needs. You can also learn a little more about Delran at South Jersey Real Estate Blog.
October 2007 Delran Real Estate Update: Wow, what a difference a year makes! Like most markets, Delran has definitely experienced a slow down. In the month of October, 7 homes sold with an average price of $222k. These homes were on the market an average of 56 days, just under 2 months. Now compare these numbers to October '06. Last year 22 homes sold in October! That is a 68% decrease in homes sold! Now that we are heading into the holiday season, I'm sure things will remain quiet for a little while. Here is a snapshot of the last 6 months:
So what does this mean if you're trying to sell? You really need to understand what your goals are. Pricing and marketing is key right now. You need to price your home aggressively if you want to sell and you need as much marketing exposure as you can get. Thinking of buying or selling? Not sure if now is the right time for you? Please contact me, a REALTOR® who lives in town, and let's discuss your goals and work out a plan to meet your needs. Here are some other related links you may find useful: Based on information from Trend for the month of October 2007 on November 8 2007
September 2007 Delran Real Estate Update: For those of you who have been following trends in Delran, you'll see that September figures look a lot like August figures. This is not a typo. According to Trend, we saw the exact same number in homes sold and placed under contract as a month ago. That is 11 homes sold, and another 9 under contract. On the flip side, we've seen an increase in the number of homes listed, up to 37 for the month. The average price continues to hover around $300k with homes on the market for about 2.5 months. As of today, there are 115 homes for sale in Delran Based on information from Trend for the month of September 2007 on October 17th 2007 Here is the August 2007 Delran Real Estate Update: As the summer comes to an end we are seeing a definite slow down in home sale activity in Delran. Sales are down almost half from the start of the summer. In August 11 homes sold and another 9 went "under contract". The average price continues to hover around $300k but has been showing a downward trend the past few months. The amount of time homes are up for sale seems to be increasing as well. On average, Delran is still at around 2.5 months but for many homes, it is taking longer. As of today, there are 116 homes for sale in Delran with 24 homes being listed this month. Here is a snapshot of the past 3 months:
How is Burlington County doing? Please read my Burlington County Market Report
Month Ending July 2007 Here is my July 2007 Delran Real Estate Update. This past month, 14 homes sold with an average price of $280k. In addition, 8 other homes went under contract. As we get to the end of summer, looks like inventory will remain at current levels. Over the past 3 months, the number of homes sold and under contract equals the amount of new listings. On average, homes are on the market about 2.5 months before they sell. In all, the average price for Delran continues to hover around the $300k mark. As of today, there are 105 homes currently for sale. This ranges from $150k to $570k. So if you are interested in living in Delran, you're sure to find a home regardless of your price range. Here is a snapshot of activity over the past 3 months:
If you have any questions about Delran, please feel free to contact me - a REALTOR® who lives in town!
~Ravi Shah, Delran Real Estate
Month Ending May 2007 Hello again! Here is the May 2007 Delran Real Estate update. This month, 14 homes sold with an average price of $297k. These homes were on the market for an average of 78 days, however as you see in the data below, many sold within a month. If you were thinking of buying in Delran, the choices continue to grow as 27 homes were listed this past month. Here is a snapshot of activity over the past 3 months. As you can see, the average days on market continues to stay close to 80 days.
Here are some of the details of homes sold in May:
If you have any questions about Delran, please feel free to contact me - a REALTOR® who lives in town! Based on information from Trend for the month of May 2007 on June 1st 2007
Month Ending March 2007 Here is the March 2007 Delran Real Estate Update.
Delran continues to keep busy as far as homes getting sold! We had 14 that settled this past month with an average sale price of $268,609 and they were on the market an average of 88 days. Now if you are looking to buy, there were 34 homes listed in March so there is much to choose from!
If you are interested in more information on Delran or other towns in South Jersey, please email me or call me at (856) 914-4853. Based on information from Trend for the month of March 2007 on Apr. 3rd 2007
Month Ending February 2007 Curious about what your neighbors house sold for? Thinking of moving to Delran and want to know what homes are selling for? Here is the February 2007 Delran Real Estate Update.
Delran jumped up to 21 homes sold in February, up from 11 in January and 10 in December. Homes that are priced right are now selling within 60 days (if you're counting, that's 11 for February) The average sold price of all the homes in February was $299,061 with an average Days on Market of 71 days Based on information from Trend for the month of February 2007 on Mar. 1st 2007
Month Ending January 2007 In summary for January, there were: 11 went under contract (Pending) and 11 settled. Pending Details (values are current list price):
Sold Details:
Based on information from Trend for the month of January 2007, on Feb. 6th 2007
Month Ending December 2006 In summary, there were: 74 active listings, 4 went under contract (Pending) and 10 settled. Pending Details:
Sold Details:
For a relatively smaller town (approx. 7 square miles) there is a subdivision to meet most needs and price ranges. New Construction, Established Single Family homes, Condos & Townhomes, you can find it here. If you are interested in more information on Delran or other towns in South Jersey, please email me at ravi@sjhomes.net, call me at (856) 914-4853 or you can Search Homes for Sale at my website. Based on information from Trend for the month of December 2006 :: Search the MLS :: Receive Email Updates :: My Property Organizer :: Cinnaminson :: Stanwick Rd, Moorestown :: Market Reports :: Buyers Agency :: Buyer's Resources :: Info For Buyers :: List My Home :: What is My Home Worth? :: Seller's Resources :: Info For Sellers :: Get Pre-Approved :: Mortgage Rates :: Calculators :: Credit Report :: Cinnaminson :: Delran :: Moorestown :: Mount Laurel :: Schools :: Real Estate Library :: Glossary of Terms :: Weather :: Daily News :: Vendor Directory :: Real Estate Links :: About Team Manning :: Contact :: An Equal Opportunity Company. Equal Housing Opportunity. All rights reserved. 
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