Market Trends: Gloucester County, July 2018

Sales were up 10.7% compared to July 2017 and are up 9.1% year-to-date. Prices were down 7.1% compared to last July but are up 0.1% year-to-date. Foreclosure sales were 20% of July's sales, up from 13% in July 2017.

The number of homes for sale during July decreased by 2.4% and is 17.4% below the 2017 level compared to a 19% shortfall throughout the region. The Months Supply of Inventory is at 4.8 months, down from 6.1 months a year ago.

Sales were up 10.7% compared to last July and are up 9.1% year-to-date. Foreclosure sales were up 33% from July 2017 and comprised 20% of all sales in July while normal sales were up 5.7% from July 2017. The Property Marketing Period was 39 days, down from 45 last July.

The median sold price in July was down 7.1% from last July but is up 0.1% year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $202,000 compared $211,000 last July, a 4.3% decrease.

The sold price to original list price ratio of 96.6% was above the normal range of 93-95%. In July the sold price to list price ratio was at 98.5% compared to 98.4% last year.

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