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Gloucester Township NJ Real Estate Market 12/22 - 12/28/2024

By
Real Estate Agent with Dave Sulvetta, eXp Connection, Gloucester County Realtor 0683062

Gloucester Township NJ Real Estate Market Report: December 22 – December 28, 2024

📊 Curious about the latest real estate trends in Gloucester Township, NJ? Dive into the highlights of this dynamic market to see what’s hot, what’s trending, and what’s next for buyers and sellers in this thriving community. Let’s break it down.


Active Listings: Variety and Value

🏠 65 Active Listings

  • Average Price: $363,701
  • Total Value of Active Listings: $23,640,571

This week showcased a range of homes on the market, catering to various price points and preferences. Whether you're eyeing a cozy starter home or something grander, there's a lot to explore.


Homes Under Contract: Promising Deals

🔑 2 Homes Under Contract

  • Average Contract Price: $275,000

These numbers highlight ongoing buyer activity and confidence in Gloucester Township's competitive housing market.


Coming Soon Properties: What’s on the Horizon

📅 4 “Coming Soon” Listings
Fresh inventory is just around the corner! These properties are generating buzz and are perfect for those looking to stay ahead of the curve.


Pending Properties: The Waiting Game

1 Pending Home

  • Average Pending Price: $199,000

Pending sales reflect strong demand, particularly in the entry-level price range.


Settled Properties: A Strong Week for Closings

9 Homes Closed

  • Average Sold Price: $343,322
  • Combined Value of Sold Homes: $3,089,897

Breakdown of Sold Homes

💰 Price Per Square Foot: $177.56
⏱️ Days on Market (Average): 16.7 days
📉 Seller Concessions: Sellers received 0.41% less than the asking price, which is typical for the season.


Financing Breakdown

The financing methods for sold homes included:

  • 🏦 5 Conventional Mortgages
  • 🏠 3 FHA Loans
  • 💵 1 Cash Purchase

Expired and Bank-Owned Listings

🚪 1 Expired Listing
🏦 1 Bank-Owned Property Sold

These listings offer opportunities for buyers who are open to unique purchase scenarios.


Home Features Analysis

🔍 Key Features of Sold Homes:

  • 5 Homes with Basements – Offering extra storage or entertainment spaces.
  • 6 Homes with Garages – A feature highly valued by buyers.

New Construction Update

🚧 No New Construction Sales This Week
While new builds weren’t a part of this week’s activity, the existing inventory continues to provide excellent options for buyers.


Conclusion

The Gloucester Township, NJ real estate market continues to thrive with diverse listings, competitive pricing, and steady sales activity. Whether you’re buying, selling, or just staying informed, these trends highlight a healthy market filled with opportunities.


FAQs

1. What’s the average price of active listings in Gloucester Township, NJ?
The average price of active listings is $363,701, showcasing a range of affordable and upscale options.

2. How quickly are homes selling?
The average days on market last week was 16.7, reflecting a swift pace, even during the holidays.

3. What types of financing are buyers using?
Conventional mortgages lead the way, with FHA loans and cash purchases also playing a role.

4. Are there any standout features in the sold homes?
Yes! Many homes included basements and garages, which are highly sought-after features.

5. How can I use this data to make informed decisions?
By understanding current market trends, you can better strategize whether you're looking to buy, sell, or invest in Gloucester Township real estate.

Contact Dave Sulvetta ☎️ 856.889.8163

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