Home Market Trends: Camden County, December 2017

In December, Camden County home sales were up 6.4% compared to December 2016 but the median sold price was down 0.8%. Foreclosure sales, after moderating somewhat in November, were up 17% from last December and constituted 27% of all sales.

The number of homes available for sale in Camden County decreased by 8.6% in December and is now 15.5% lower than a year ago. The Months Supply of Inventory has dropped from 6.0 months a year ago to 4.3 months due to the increase in sales over the past year and much lower inventory.

December sales were 6.4% higher than last December and are 16.7% higher year-to-date. Foreclosure sales increased by 17% this month compared to last December and comprised 27% of all sales. Nonforeclosure sales decreased by 5.1% in December and the Property Marketing Period was down from 61 days last year to 49 days this year.

The median sold price was down 0.8% compared to last December and is down 0.6% compared to 2016 year-to-date. The median sold price of non-foreclosure sales in Camden County in December was $170,750 down 3.8% from December 2016.

The sold price to original list price ratio in December at 94.4% was above the normal range of 92-94%. In December, properties in Camden sold for 98.0% of the current list price compared to 97.5% last December.

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