The Long & Foster Market Minute
Focus On: Gloucester County Housing Market April 2017
Units Sold
323
Active Inventory
1,902
Median Sale Price
$172,000
Days On Market
89
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 2%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in April, with 323 sold this month in Gloucester County Real Estate, a decrease of 11%. This month's total units sold is similar compared to a year ago.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 230 units or 11%. The total number of active inventory this April was 1,902 compared to 2,132 in April 2016. This month's total of 1,902 is higher than the previous month's total supply of available inventory of 1,872, an increase of 2%.

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Median Sale Price
Last April, the median sale price for Gloucester County Homes was $192,500. This April, the median sale price was $172,000, a decrease of 11% or $20,500 compared to last year. The current median sold price is 4% lower than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
654
Current Contracts
426
Sold Vs. List Price
97.4%
Months of Supply
5.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 4%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -10%
Vs. Year Ago
Months of Supply
In April, there was 5.9 months of supply available in Gloucester County, compared to 6.6 in April 2016. That is a decrease of 11% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 654 homes newly listed for sale in Gloucester County compared to 631 in April 2016, an increase of 4%. There were 426 current contracts pending sale this April compared to 416 a year ago. The number of current contracts is 2% higher than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Gloucester County was 97.4% of the average list price, which is 0.6% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 89, higher than the average last year, which was 87, an increase of 2%.

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*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by TReND and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TReND or Long & Foster Real Estate, Inc.