The Long & Foster Market Minute

Focus On: Gloucester County Housing Market June 2018

Units Sold
33
Active Inventory
155
Median Sale Price
$261,500
Days On Market
85
Down -31%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 33 sold this month in Gloucester County Real Estate versus 37 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 31% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 37 units or 19%. The total number of active inventory this June was 155 compared to 192 in June 2017. This month's total of 155 is lower than the previous month's total supply of available inventory of 157, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Gloucester County Homes was $255,500. This June, the median sale price was $261,500, an increase of 2% or $6,000 compared to last year. The current median sold price is 2% lower than in May.

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


New Listings
45
Current Contracts
34
Sold Vs. List Price
99.8%
Months of Supply
4.7
Up 22%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 1%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 4.7 months of supply available in Gloucester County, compared to 4.0 in June 2017. That is an increase of 17% 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 45 homes newly listed for sale in Gloucester County compared to 37 in June 2017, an increase of 22%. There were 34 current contracts pending sale this June compared to 37 a year ago. The number of current contracts is 8% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Gloucester County was 99.8% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 85, lower than the average last year, which was 96, a decrease of 11%.

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.