Real estate

How hot is the Burlington County real estate market? Home prices have risen year over year

The median sale price for a single-family home in Burlington County in October was $314,500. That’s an 11.5% increase from October 2020, according to localized USA TODAY Network analysis generated with data from Realtor.com.

The number of homes sold decreased by 10.2% compared to the previous year. A total of 543 homes were sold across the county during the month of October. During the same period a year earlier, 605 single-family homes had been sold.

Real estate sales can take weeks or months to register and collect. This is the latest data made available through Realtor.com on the USA TODAY Network.

Condos and townhouses sold in October had a median sale price of $192,000. This figure represents a 9.7% year-over-year increase. In Burlington County, 66 were sold, down 23.3% from the previous year.

How hot is the Burlington County, New Jersey real estate market?

Information about your local real estate markets is available through the USA TODAY Network, with more data from Realtor.com.

The top 10% of properties sold had prices of at least $505,000, up 6.3% from a year earlier.

In October, three properties sold for $1 million or more: two single-family homes and a condominium or townhouse.

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The median home sale price – the midpoint of all homes or units sold over a period of time – is used in this report instead of the average home sale price, because experts say the median provides a better view. detail of what is happening in a market. To find the average price, all the prices of houses sold are added together and then divided by the number of houses sold. This measure can be distorted by a low or high price.

The USA TODAY Network publishes localized versions of this story on its news sites across the country, generated with data from Realtor.com. The story was written by Sean Lahman.

This article originally appeared in the Burlington County Times: The Average Burlington County Home Sold for a Higher Price Year Over Year