Gloucester County Housing Market Data

There was an increase in total units sold in May, with 37 sold this month in Gloucester County Real Estate versus 33 last month, an increase of 12%. This month's total units sold was lower than at this time last year, a decrease of 3% versus May 2017.

Versus last year, the total number of homes available this month is lower by 57 units or 27%. The total number of active inventory this May was 155 compared to 212 in May 2017. This month's total of 155 is lower than the previous month's total supply of available inventory of 164, a decrease of 5%.

Last May, the median sale price for Gloucester County Homes was $231,650. This May, the median sale price was $265,900, an increase of 15% or $34,250 compared to last year. The current median sold price is 21% higher than in April.

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

In May, there was 4.2 months of supply available in Gloucester County, compared to 5.6 in May 2017. That is a decrease of 25% 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.

This month there were 37 homes newly listed for sale in Gloucester County compared to 38 in May 2017, a decrease of 3%. There were 33 current contracts pending sale this May compared to 35 a year ago. The number of current contracts is 6% lower than last May.

In May, the average sale price in Gloucester County was 99.3% of the average list price, which is 1.1% higher than at this time last year.

This month, the average number of days on market was 76, lower than the average last year, which was 157. This decrease was impacted by the limited number of sales.





Focus On: Gloucester County Housing Market			May 2018

Units Sold 37	Active Inventory 155	Median Sale Price $265,900	Days On Market 76

Down -3% Vs. Year Ago	Down -27% Vs. Year Ago	Up 15% Vs. Year Ago	Down Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 37 sold this month in Gloucester County Real Estate versus 33 last month, an increase of 12%. This month's total units sold was lower than at this time last year, a decrease of 3% versus May 2017.
Active Inventory Versus last year, the total number of homes available this month is lower by 57 units or 27%. The total number of active inventory this May was 155 compared to 212 in May 2017. This month's total of 155 is lower than the previous month's total supply of available inventory of 164, a decrease of 5%.
		Median Sale Price Last May, the median sale price for Gloucester County Homes was $231,650. This May, the median sale price was $265,900, an increase of 15% or $34,250 compared to last year. The current median sold price is 21% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 37	Current Contracts 33	Sold Vs. List Price 99.3%	Months of Supply 4.2

Down -3% Vs. Year Ago	Down -6% Vs. Year Ago	Up 1.1% Vs. Year Ago	Down -25% Vs. Year Ago


		Months of Supply In May, there was 4.2 months of supply available in Gloucester County, compared to 5.6 in May 2017. That is a decrease of 25% 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 37 homes newly listed for sale in Gloucester County compared to 38 in May 2017, a decrease of 3%. There were 33 current contracts pending sale this May compared to 35 a year ago. The number of current contracts is 6% lower than last May.
		Sale Price to List Price Ratio In May, the average sale price in Gloucester County was 99.3% of the average list price, which is 1.1% higher than at this time last year. Days on Market This month, the average number of days on market was 76, lower than the average last year, which was 157. This decrease was impacted by the limited number of sales.



	*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.
	Information 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.