When looking at the year-to-month (using the most recently completed month of January) actual statistics, by year, for Gloucester County, the results, by year, for residential homes on the market, sold, average price and days for sale before close is charted as follows:
Yr Ending
January | Units Listed | Units Sold | % Sold | Sold Avg. | Avg.
Dom |
2008 | 7108 | 3135 | 44 | $245,347 | 75 |
2007 | 7147 | 3687 | 52 | $242,149 | 63 |
2006 | 6281 | 3994 | 64 | $223,624 | 52 |
2005 | 5310 | 3876 | 73 | $196,393 | 53 |
2004 | 4686 | 3554 | 76 | $168,365 | 51 |
This shows some interesting trends in the number of units going on sales, despite the decreased demand, which eventually begins to push down the price and extend the average days on market.
The current inventory is 2300, with an average monthly Sold of 241, yielding a backlog of 9 months to sell off the inventory at current rates of sale.
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