Residential Single Family
Gloucester had a 1.8% decrease in the number of homes for sale during January and is slightly above the 2017 level compared to an 13% shortfall throughout the region. The Months Supply of Inventory is at 5.3 months, down from 6.0 months a year ago.
The median sold price in January was up 2.3% from last January. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $201,000 compared $190,000 last January, a 5.8% increase.
Sales were up 8.3% compared to last January, but foreclosure sales were up 26% from January 2017 and comprised 34% of all sales in January. Normal sales were up 1.7% from January 2017. The Property Marketing Period was 61 days, down from 64 last January.
The sold price to original list price ratio of 94.5% was within the normal range of 93-95%. In January the sold price to list price ratio was at 97.6% compared to 97.0% last year.
For all your Residential and Commercial Real Estate Appraisal needs please contact:James M. Hanson Associates, Inc.Phone: (609) 884-9185Email: Info@AppraiseNewJersey.comCommunity Resource LinksCape May Chamber of CommerceCape May County Chamber of CommerceAvalon Chamber of CommerceAtlantic City Chamber of Commerce
Thank you, we'll be in touch!