Gloucester County Market Trends Report - September 2017

Residential activity in Gloucester County (Single-family and Condo)

Sales were up 3.2% compared to September 2016 and are up 14.3% YTD. Prices were down 3.4% compared to last September. Foreclosure sales were 22.3% of September's sales.

Inventory

Gloucester had a 0.4% increase in the number of homes for sale during September and is just 4.7% below the 2016 level compared to an 11% shortfall throughout the region. The Months Supply of Inventory is at 6.2 months, down from 7.2 months a year ago.

Settled Listings

Sales were up 3.% compared to last September and are up 14.3% YTD. Foreclosure sales were up 82% from September 2016 and comprised 22.3% of all sales in September. Normal sales were down 6.2% in September. The Property Marketing Period was 50 days, down from 51 last September.

Median Price

The median sold price in September was down 3.4% from last September and is down 5.3% YTD. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $196,500 compared $200,000 last September, a 1.7% decrease.

Settled Price / Original Price

The sold price to original list price ratio of 95.6% was slightly above the normal range of 93-95%. In September the sold price to list price ratio was at 98.2% compared to 98.7% last year.

Average Showing Appointments Per Listing by Price Range

Appointments were down 17% compared to last month and up 17% compared to September 2016.

 

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