Gloucester Twp NJ Housing Report for 5/1/2023 - 5/7/2023 | Real Estate Market Update
Welcome to our latest housing report for Gloucester Twp NJ! I'm going to provide you with a comprehensive update on the real estate market from 5/1/2023 - 5/7/2023. If you're looking to buy, sell, or invest in the Gloucester Twp NJ area, you won't want to miss this!
If you are looking to buy or sell a property in Gloucester Twp, New Jersey, it is essential to stay up-to-date with the latest housing market trends. In this write-up, we will provide a housing market update for Gloucester Twp NJ using the following for 5/1/2023 -5/7/2023 and compared to the same week in 2022.
Current Housing Market Trends in Gloucester Twp NJ
The housing market in Gloucester Twp, NJ, has experienced significant changes over the past year. According to the latest data, the sold dollar volume for 2023 is $1,031,000, compared to $3,658,900 in 2022, which is a decline of over 70%. Moreover, the number of units sold in 2023 is 4, compared to 14 units sold in 2022.
New Listings and Average Active List Price
There were 17 new listings during the past week in Gloucester Twp, NJ. The average active list price for 2023 is $332,865, which is higher than the average active list price of $261,350 in 2022. This is an increase of over 27%.
Average Days on Market
The average days on market for 2023 is 40, which is higher than the average days on market of 25 in 2022. This indicates that properties are taking longer to sell in 2023 compared to 2022.
My opinion - For GLOUCESTER TWP NJ
I believe we are going to see an uptick for the June Market as we had 13 homes that went pending or active under contract this month and we are not even halfway through May. As I see it, (and this is my personal opinion), we will see more homes go pending this month which will settle in June and July.
The problem we are seeing here is not price as we are seeing higher listing prices, the issue is the LACK OF INVENTORY, which in is very good for the people getting ready to sell their Gloucester Township NJ home NOW.
Please contact me today for your free home analysis. It's more than just a CMA. I can run models on how long it could take to sell, etc. Please call me at 856.889.8163 or email me at Dave@DaveSulvetta.com
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