When looking at the year-to-month actual statistics (using the most recently completed month of June vs. May, April, March and January) for Gloucester County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:

Yr Ending

Units Listed

Units Sold

 % Sold

Sold Avg.

Avg.
 Dom
06/2008 6811 2781 41 $241,069 81
05/2008 6907 2899 42 $242,685  80
04/2008 7053 2959 42 $244,053 80
03/2008 7233 3055 42

$243,945

 78

01/2008

7108

3135

 44

$245,347

75

See previous article for prior year 01/200X year-to-date comparison.

This shows that the trend is continuing to show a downword tendency, it appears to be slow, and hopefully will start to level and even reverse direction.

The current inventory is 2670, with an average monthly Sold of 214, yielding a backlog of 12 months to sell off the inventory at current rates of sale.


Copyright 2008 by Lawrence Yerkes. All Rights Reserved.

 

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Real Estate Agent: Lawrence Yerkes - Broker Associate, Southern New Jersey Real Estate Services (RE/MAX Suburban)
Lawrence Yerkes - Broker Associate, Southern New Jersey Real Estate Services
Medford Township, NJ
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