Home Prices in Gloucester Twp NJ for September 2022
Real estate market data for Gloucester Twp NJ provided by Dave Sulvetta of eXp Realty.
Gloucester Twp NJ Home Prices | September 2022
We are seeing a decline across the board, HOWEVER, home prices are staying much higher than "normal" or pre-Covid. September 2022 has a sold volume of $4,849,300 while September of 2021 has a sold volume of $10,695,344. There were 31 "PENDINGS" in Sept. 2022 compared to 42 in Sept of 2022.
Sept of 2022 had 32 new listings while Sept 2021 had 46 new listings hit the market.
Average list price for sold in Sept 2022 was $255,226 while Sept 2021 $237,674, proof that home prices are still hanging in there for now.
Summary
In Gloucester Township, the median
sold price for Detached properties for September was $289,900,
representing an increase of 1.7% compared to last month and an
increase of 11.5% from Sep 2021. The average days on market for
units sold in September was 14 days, 69% below the 5-year
September average of 45 days. There was a 15.8% month over
month increase in new contract activity with 22 New Pendings; a 45%
MoM increase in All Pendings (new contracts + contracts carried over
from August) to 29; and a 15.6% decrease in supply to 27 active
units.
This activity resulted in a Contract Ratio of 1.07 pendings per active
listing, up from 0.63 in August and a decrease from 1.73 in
September 2021. The Contract Ratio is 9% lower than the 5-year
September average of 1.17. A higher Contract Ratio signifies a
relative increase in contract activity compared to supply, and indicates
the market is moving in the seller's favor. A lower Contract Ratio
signifies a relative decrease in contract activity compared to supply,
and indicates the market is moving in the buyer's favor.
FOR MORE DATA updated monthly - DaveSellsNJ
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