Market Trends: Camden County, May 2018

In May, Camden County home sales were up 1.7% compared to May 2017 and the median sold price was up 1.4%. The 159 foreclosure sales were down 13% from May 2017 and constituted 23% of all sales.

The number of homes available for sale in Camden County increased by 0.8% in May and is now 12.8% lower than a year ago. The Months Supply of Inventory has dropped from 5.3 months a year ago to 4.6 months due to the increase in sales over the past year and lower inventory.

May sales were 1.7% higher than last May but are 0.8% lower year-to-date. Foreclosure sales were down 13% from last May and comprised 23% of all sales. Nonforeclosure sales increased by 5.4% in May and the Property Marketing Period was down from 43 days last year to 31 days this year.

The median sold price was up 1.4% compared to last May and is up 0.9% year-to-date. The median sold price of non-foreclosure sales in Camden County in May was $185,000 down 3.1% from May 2017.

The sold price to original list price ratio in May at 96.7% was above the normal range of 92-94%. In May, properties in Camden sold for 98.6% of the current list price up from 98.5% last May.

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