The Long & Foster Market Minute

Focus On: Gloucester County Housing Market April 2018

Units Sold
33
Active Inventory
160
Median Sale Price
$220,000
Days On Market
80
Up
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in April, with 33 sold this month in Gloucester County Real Estate. This month's total units sold was higher than at this time last year, an increase from April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 64 units or 29%. The total number of active inventory this April was 160 compared to 224 in April 2017. This month's total of 160 is lower than the previous month's total supply of available inventory of 168, a decrease of 5%.

Median Sale Price
Last April, the median sale price for Gloucester County Homes was $215,000. This April, the median sale price was $220,000, an increase of 2% or $5,000 compared to last year. The current median sold price is 5% 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.


New Listings
47
Current Contracts
38
Sold Vs. List Price
98.9%
Months of Supply
4.8
Down -10%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 4.6%
Vs. Year Ago
Down -37%
Vs. Year Ago

Months of Supply
In April, there was 4.8 months of supply available in Gloucester County, compared to 7.7 in April 2017. That is a decrease of 37% 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.

New Listings & Current Contracts
This month there were 47 homes newly listed for sale in Gloucester County compared to 52 in April 2017, a decrease of 10%. There were 38 current contracts pending sale this April compared to 37 a year ago. The number of current contracts is 3% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Gloucester County was 98.9% of the average list price, which is 4.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 80, lower than the average last year, which was 92, a decrease of 13%.

The Long & Foster Market Minute
*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 CBRAR 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 CBRAR or Long & Foster Real Estate, Inc.