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Gloucester County Year-to-Month Residential Sales Statistics - Through August 2008

By Lawrence Yerkes

Real Estate Agent with RE/MAX Preferred

September 04, 2008 05:55 PM

When looking at the year-to-month actual statistics (using the most recently completed month of August vs. July, June, 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
08/2008	6618	2588	39	$237,989	85
07/2008	6725	2707	40	$240,303	83
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 downward tendency, it appears to be slow, and hopefully will start to level and even reverse direction.

The current inventory is 2563, with an average monthly Sold of 199, yielding a backlog of 12 months to sell off the inventory at current rates of sale.