Market Trends: Gloucester County, June 2018
Posted by Erik Ymer on Friday, August 3, 2018 at 12:00 AM By Erik Ymer / August 3, 2018 Comment
Sales were up 8.1% compared to June 2017 and are up 8.1% year-to-date. Prices were down 0.5% compared to last June but are up 0.8% year-to-date. Foreclosure sales were 19% of June's sales, down from 23% in June 2017.
The number of homes for sale during June decreased by 0.6% and is 11.3% below the 2017 level compared to a 13% shortfall throughout the region. The Months Supply of Inventory is at 5.2 months, down from 6.1 months a year ago.
Sales were up 8.1% compared to last June and are up 8.1% year-to-date. Foreclosure sales were down 6% from June 2017 and comprised 19% of all sales in June while normal sales were up 13.0% from June 2017. The Property Marketing Period was 34 days, down from 37 last June.
The median sold price in June was down 0.5% from last June but is up 0.8% year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $206,600 compared $210,500 last June, a 1.9% decrease.
The sold price to original list price ratio of 96.6% was above the normal range of 93-95%. In June the sold price to list price ratio was at 98.7% compared to 98.4% last year.