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)
August 2023
Local Knowledge, Proven Results
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.