Market Trends: Gloucester County, February 2018

Sales were up 8.3% compared to February 2017 and are up 10.8% year-to-date. Prices were up 4.4% compared to last February. Foreclosure sales were 36% of February's sales, up from 29% in February 2016.

Gloucester had a 0.5% increase in the number of homes for sale during February and is slightly below the 2017 level compared to an 12% shortfall throughout the region. The Months Supply of Inventory is at 5.3 months, down from 5.5 months a year ago.

Sales were up 8.3% compared to last February and are up 10.8% year-to-date. Foreclosure sales were up 34% from February 2017 and comprised 36% of all sales in February while normal sales were down 4.5% from February 2017. The Property Marketing Period was 73 days, down from 77 last February.

The median sold price in February was up 4.4% from last February and is up 3.1% year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $206,900 compared $185,000 last February, an 11.8% increase.

The median sold price in February was up 4.4% from last February and is up 3.1% year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $206,900 compared $185,000 last February, an 11.8% increase.