Market Trends: Camden County, March 2018

In March, Camden County home sales were down 0.7% compared to March 2017 but the median sold price was up 5.5%. The 132 foreclosure sales were 11% lower than March 2017 but still constituted 23% of all sales.

The number of homes available for sale in Camden County decreased by 2.4% in March and is now 17.5% lower than a year ago. The Months Supply of Inventory has dropped from 5.2 months a year ago to 4.3 months due to the increase in sales over the past year and much lower inventory.

March sales were 0.7% below last March and are 5.8% lower year-to-date. Foreclosure sales declined by 11% this month compared to last March but comprised 23% of all sales. Nonforeclosure sales increased by 2.2% in March and the Property Marketing Period was down from 60 days last year to 49 days this year.

The median sold price was up 5.5% compared to last March and is up 0.8% compared to 2017 year-to-date. The median sold price of non-foreclosure sales in Camden County in March was $175,000 up 2.9% from March 2017.

The sold price to original list price ratio in March at 95.2% was above the normal range of 92-94%. In March, properties in Camden sold for 98.1% of the current list price down from 98.2% last March.

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