Gloucester Twp NJ - Market Report for 3/5/2023 - 3/12/2023
Dave Sulvetta - Gloucester Twp NJ Real Estate Agent
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Although we are seeing very low/record low inventory across the United States and locally, the real estate market in Gloucester Township NJ remained active during the week from March 5 to March 12. According to recent statistics, only 7 new residential listings became active during the week, which is not a great sign for buyers who are actively searching for a new home. Search All Gloucester Township Homes For Sale Here
Additionally, 13 homes went pending during the week, indicating that there is still strong demand from buyers in the market. This is a good sign for sellers who are looking to list their homes in the coming weeks or months.
During the same period, 6 homes settled, which is an encouraging sign for both buyers and sellers. The average sold price for homes in Gloucester Township was $216,918, which suggests that homes in the area are selling at a reasonable price point.
The total sold market volume for the week was $1,571,508, which is a 2.733% INCREASE from original list price and and an indication that although there is low inventory, the real estate market in Gloucester Township remains active and healthy. This is good news for both buyers and sellers, as it suggests that there are opportunities for both parties to make successful transactions.
Overall, the real estate market in Gloucester Township, NJ remains strong, however the low inventory does affect supply and demand. Buyers should act quickly if they see a property that meets their needs, while sellers can feel confident in listing their homes in the current market.
Average Days on Market is 19. only one banked owned property was in the mix for the past week.
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Look around the site DaveSellsNJ.com to see more information about our area.
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