Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
Galloway NJ Real Estate Market Trends November 2014
Homes for Sale Galloway Township NJ Market Trends November 2014
The Galloway Township Real Estate Market saw a further decline in November. November saw an 29.7% increase in the number of new listings coming on the market compared to November of 2013. 35 new single family homes where introduced to the market.
The number of Galloway Township single family homes for sale in the year to date period ending November is up 29.3% over the previous year to date period.
Sold properties in November where up 25% with only 15 sold single family properties. This brings the current total of sold properties for the year to date period to 194. A 12.6% decrease over the previous year to date period.
Combined, the total number of newly listed Galloway Township NJ Homes for Sale and total inventory, versus the number of properties being sold, has increased the months supply of inventory to 18 months. A 51.3% increase from 2013. This denotes an extremely strong Buyers Market.
Average Days on Market in November was up 54.4% to 60 days. Days on Market only reflects the properties that have sold and not an average of the total inventory that is currently available. With a low number of sold properties, a very quick sale, or an incorrectly reported sale, can cause a large deflection in the Days on Market. ... more
Are you on The Rain? Grow Your Network!