Market Trends: Gloucester County, September 2018
Sales were down 2.6% compared to September 2017 but are up 7.7% year-to-date. Prices were down 2.5% compared to last September and are now the same year-to-date. Foreclosure sales were 21% of September's sales, down from 23% in September 2017.
The number of homes for sale during September decreased by 0.6% and is 14.6% below the 2017 level compared to an 18% shortfall throughout the region. The Months Supply of Inventory is at 4.9 months, down from 6.0 months a year ago.
Sales were down 2.6% compared to last September but are up 7.7% year-to-date. Foreclosure sales were down 14% from September 2017 and comprised 21% of all sales in September while normal sales were up 1.7% from September 2017. The Property Marketing Period was 44 days, down from 50 days last September.
The median sold price in September was down 2.5% from last September and is the same as 2017 year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $195,000 compared $197,000 last September, a 1.0% decrease.
The sold price to original list price ratio of 96.2% was above the normal range of 93-95%. In September the sold price to list price ratio was at 98.4% compared to 98.2% last year.