The Long & Foster Market Minute

Focus On: Gloucester County Housing Market September 2018

Units Sold
29
Active Inventory
172
Median Sale Price
$235,000
Days On Market
90
Down -6%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 29 sold this month in Gloucester County Real Estate versus 30 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 6% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 13 units or 7%. The total number of active inventory this September was 172 compared to 185 in September 2017. This month's total of 172 is lower than the previous month's total supply of available inventory of 182, a decrease of 5%.

Median Sale Price
Last September, the median sale price for Gloucester County Homes was $207,000. This September, the median sale price was $235,000, an increase of 14% or $28,000 compared to last year. The current median sold price is 3% lower than in August.

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


New Listings
39
Current Contracts
30
Sold Vs. List Price
98.6%
Months of Supply
5.9
Up 44%
Vs. Year Ago
Up 11%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In September, there was 5.9 months of supply available in Gloucester County. The amount of supply is similar compared to 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 39 homes newly listed for sale in Gloucester County compared to 27 in September 2017, an increase of 44%. There were 30 current contracts pending sale this September compared to 27 a year ago. The number of current contracts is 11% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Gloucester County was 98.6% 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 90, lower than the average last year, which was 107, a decrease of 16%.

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.