Market Trends: Gloucester County, August 2018
Sales were up 5.5% compared to August 2017 and are up 8.7% year-to-date. Prices were down 3.2% compared to last August and are now the same year-to-date. Foreclosure sales were 20% of August's sales, up from 19% in August 2017.
The number of homes for sale during August decreased by 2.2% and is 16.0% below the 2017 level compared to a 20% shortfall throughout the region. The Months Supply of Inventory is at 4.8 months, down from 6.0 months a year ago.
Sales were up 5.5% compared to last August and are up 8.7% year-to-date. Foreclosure sales were up 7% from August 2017 and comprised 20% of all sales in August while normal sales were up 4.2% from August 2017. The Property Marketing Period was 40 days, down from 43 last August.
The median sold price in August was down 3.2% from last August and the same as 2017 year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $205,500 compared $214,000 last August, a 4.0% decrease.
The sold price to original list price ratio of 96.6% was above the normal range of 93-95%. In August the sold price to list price ratio was at 98.3% compared to 98.2% last year.