Market Trends: Gloucester County, April 2018

Sales were up 7.1% compared to April 2017 and are up 6.7% year-to-date. Prices were up 4.0% compared to last April. Foreclosure sales were 23% of April's sales, up from 20% in April 2017.

The number of homes for sale during April increased by 0.7% and is 5.4% below the 2017 level compared to a 12.5% shortfall throughout the region. The Months Supply of Inventory is at 5.3 months, down from 5.7 months a year ago.

Sales were up 7.1% compared to last April and are up 6.7% year-to-date. Foreclosure sales were up 25% from April 2017 and comprised 23% of all sales in April while normal sales were up 2.5% from April 2017. The Property Marketing Period was 51 days, down from 57 last April.

The median sold price in April was up 4.0% from last April and is up 1.8% year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $197,000 compared $189,000 last April, a 4.2% increase.

The sold price to original list price ratio of 96.2% was above the normal range of 93-95%. In April the sold price to list price ratio was at 98.4% compared to 98.1% last year.