Gloucester Twp NJ October 2022 Market Report
In Gloucester Township NJ the median
sold price for Attached properties for October was $245,000,
representing an increase of 9.6% compared to last month and an
increase of 25.7% from Oct 2021. The average days on market for
units sold in October was 14 days, 34% below the 5-year October
average of 21 days. There was a 22.2% month over month increase
in new contract activity with 11 New Pendings; a 7.1% MoM increase
in All Pendings (new contracts + contracts carried over from
September) to 15; and a 33.3% decrease in supply to 8 active units.
This activity resulted in a Contract Ratio of 1.88 pendings per active
listing, up from 1.17 in September and a decrease from 2.00 in
October 2021. The Contract Ratio is 49% higher than the 5-year
October average of 1.26. 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
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