Home Market Trends: Camden County, November 2017

In November, Camden County home sales were down 6.5% compared to November 2016 and prices were up 1.4%. Foreclosure sales at their lowest since August 2016, but still constituted 23% of all sales.

The number of homes available for sale in Camden County decreased by 2.9% in November and is now 15.7% lower than a year ago. The Months Supply of Inventory has dropped from 6.5 months a year ago to 4.8 months due to the increase in sales over the past year and much lower inventory.

November sales were 6.5% below last November, the first year-over-year decrease since August 2014, but are 17.1% higher year-to-date. Foreclosure sales decreased by 13% this month compared to last November but still comprised 23% of all sales. Non-foreclosure sales decreased by 3.6% in November and the Property Marketing Period was down from 65 days last year to 38 days this year.

The median sold price was up 1.4% compared to last November and is up 0.1% compared to 2016 year-to-date. The median sold price of non-foreclosure sales in Camden County in November was $179,000 up 2.0% from November 2016.

The sold price to original list price ratio in November at 95.2% was above the normal range of 92-94%. In November, properties in Camden sold for 98.2% of the current list price compared to 97.4% last November.