Statistics for Salem County, NJ Fourth Quarter - 2011
The last three months of 2011 wrapped up a very challenging year for Salem County, NJ in the Real Estate world. The total inventory lowered slightly to 627 active listings while the inventory accumulation measured 21.10 months. At one point in 2011, the inventory accumulation was 26.5 months, so this was a mild improvement.
Median saleprice = $139,700 - a 5.3% decrease over 4th quarter 2010
Average saleprice = $146,740 - a 3.8% decrease over 4th quarter 2010 
% of original price/sold price = 84.7%
Average days-on-market = 188
At the end of 2011, there were only 26 pending units.
What does this mean? Pure and simple, these numbes show that the Real Estate market in Salem County was still trending down at the end of 2011. We are hoping that the first quarter of 2012 will show us improvement.
If you would like to know how your property fits into the current market, just ask Chris! AskChris@coldwellbanker.com
856-628-2710 (phone/text)
856-678-4663, 211 (office)
Comments(0)