Market Trends: Camden County, February 2018

In February, Camden County home sales were down 12.5% compared to February 2017 and the median sold price was down 2.8%. The 110 foreclosure sales were the lowest level since February 2016 but still constituted 27% of all sales.

The number of homes available for sale in Camden County increased by 0.9% in February and is now 14.0% lower than a year ago. The Months Supply of Inventory has dropped from 5.1 months a year ago to 4.4 months due to the increase in sales over the past year and much lower inventory.

February sales were 12.5% below last February and are 10.9% lower year-to-date. Foreclosure sales declined by 29% this month compared to last February but comprised 27% of all sales. Nonforeclosure sales decreased by 5.4% in February and the Property Marketing Period was down from 60 days last year to 54 days this year.

The median sold price was down 2.8% compared to last February and is down 2.9% compared to 2017 year-to-date. The median sold price of non-foreclosure sales in Camden County in February was $170,000 the same as February 2017.

The sold price to original list price ratio in February at 94.1% was above the normal range of 92-94%. In February, properties in Camden sold for 97.8% of the current list price the same as last February.

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