Real Estate Market Update for Gloucester Township NJ for Dates 3/20/2023 - 3/26/2023
The real estate market in Gloucester Township NJ has remained somewhat active, with a steady flow of sales and new listings. The average sold price for homes in Gloucester Twp is $216,680, this is all residential and it does include, condos, townhomes and single-family homes. The weekly sales volume was $1,083,400, indicating that buyers are still active in the market. Inventory is very low compared to this time last year.
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In the past week, 5 homes settled while 7 homes went pending, additionally, 5 new homes hit the market as active with an average list price of $400,560 certainly indicating that sellers are confident in the market and are willing to list their homes at higher prices. Last year within these dates, 8 homes settled with an average sales price of $265,488 and a volume of $2,123,,900. Although last year's numbers are better, this isn't a reason to be overly concerned as sales data varies. There are still many more buyers out there looking for good Gloucester Township NJ homes to purchase. There's just not enough inventory.
Sellers are still getting good equity from their houses, with an average increase of 1.84245% from the original price to the sold price. This is good news for sellers, as it indicates that the market is still healthy and that they can expect a good return on their investment.
Overall, the real estate market in Gloucester Township NJ remains active, with buyers and sellers still active in the market. The average sold price and weekly sales volume indicate that the market is still affordable for buyers, while the increase in equity for sellers is a positive sign for those looking to sell their homes.
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