Runnemede NJ Market Statistics | Runnemede NJ Home Sales & Values | Updated Monthly
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(Please remember to check back MONTHLY as the data below is automatically updated from the MLS)
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SUMMARY FOR SEPTEMBER 2022 Runnemede NJ Housing Report September 2022
In 08078, the median sold price for Detached properties for September was $255,000, representing an increase of 4.1% compared to last month and an increase of 1.6% from Sep 2021. The average days on market for units sold in September was 28 days, 30% below the 5-year September average of 40 days. There was an 11.8% month over month decrease in new contract activity with 15 New Pendings; a 10% Month Over Month decrease in All Pendings (new contracts + contracts carried over from August) to 18; and a 40% decrease in supply to 6 active units. This activity resulted in a Contract Ratio of 3.00 pendings per active listing, up from 2.00 in August and an increase from 1.00 in September 2021. The Contract Ratio is 90% higher than the 5-year September average of 1.58. 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.