Home Market Trends: Camden County, October 2017

In October, Camden County home sales were up 19.5% compared to October 2016 and prices were up 5.6%. Foreclosure sales were only 2% higher than a year ago but still constituted 23% of all sales.

Inventory

The number of homes available for sale in Camden County decreased by 2.6% in October and is now 16.3% lower than a year ago. The Months Supply of Inventory has dropped from 6.7 months a year ago to 4.9 months due to the increase in sales over the past year and much lower inventory.

Settled Listings

October sales were 19.5% above last October and are 19.2% higher year-to-date. Foreclosure sales increased by 2% this month compared to last October and comprised 23% of all sales. Nonforeclosure sales increased by 26.9% in October and the Property Marketing Period was down from 72 days last year to 43 days this year.

Median Price

The median sold price was up 5.6% compared to last October and is the same as 2016 year-to-date. The median sold price of non-foreclosure sales in Camden County in October was $179,500 up 2.3% from October 2016.

Settled Price / Original Price

The sold price to original list price ratio in October at 95.5% was above the normal range of 92-94%. In October, properties in Camden sold for 98.0% of the current list price compared to 97.4% last October.

Average Showing Appointments Per Listing by Price Range

Due to systems issues with ShowingTime all appointments in October were down from the previous year and month.