Market Trends: Gloucester County, October 2018

Sales were up 4.8% compared to October 2017 and are up 7.6% year-to-date. Prices were down 1.7% compared to last October and are the down 0.5% year-to-date. Foreclosure sales were 25% of October's sales, up from 20% in October 2017.

The number of homes for sale during October decreased by 1.7% and is 11.8% below the 2017 level compared to a 16% shortfall throughout the region. The Months Supply of Inventory is at 4.9 months, down from 5.9 months a year ago.

Sales were up 4.8% compared to last October and are up 7.6% year-to-date. Foreclosure sales were up 35% from October 2017 and comprised 25% of all sales in October while normal sales were down 1.9% from October 2017. The Property Marketing Period was 44 days, down from 56 days last October.

The median sold price in October was down 1.7% from last October and is down 0.5% year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $190,000 compared $185,000 last October, a 2.7% decrease.