The Long & Foster Market Minute

Focus On: Gloucester County Housing Market December 2018

Units Sold
34
Active Inventory
147
Median Sale Price
$227,000
Days On Market
60
Up
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -44%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 34 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 December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 19%. The total number of active inventory this December was 147 compared to 181 in December 2017. This month's total of 147 is lower than the previous month's total supply of available inventory of 167, a decrease of 12%.

Median Sale Price
Last December, the median sale price for Gloucester County Homes was $216,000. This December, the median sale price was $227,000, an increase of 5% or $11,000 compared to last year. The current median sold price is 1% lower than in November.

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


New Listings
22
Current Contracts
20
Sold Vs. List Price
97.7%
Months of Supply
4.3
Down -29%
Vs. Year Ago
Up 33%
Vs. Year Ago
No Change
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In December, there was 4.3 months of supply available in Gloucester County, compared to 7.9 in December 2017. That is a decrease of 45% 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 22 homes newly listed for sale in Gloucester County compared to 31 in December 2017, a decrease of 29%. There were 20 current contracts pending sale this December compared to 15 a year ago. The number of current contracts is 33% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Gloucester County was 97.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 60, lower than the average last year, which was 107, a decrease of 44%.

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.