More homes are for sale in
Gloucester County, NJ

New Jersey REALTORS® publishes a local market update for every county each month, and the August report for Gloucester County shows a market with more to choose from than a year ago. There were 529 single family homes for sale at the end of the month, up 8.8% from 486. At the pace homes sold in August, it would take about two and a half months to sell all of them, up from a little over two months a year earlier.

The number of homes for sale went up, and so did the price. The median sale price for a single family home was $407,000, up 2.7% from $396,250 a year earlier, and sellers received 101.2% of the asking price on average, close to the 101.6% of last August. 260 homes sold in the month, up 3.2%, and 287 came on the market, up 2.1%. What changed most was pace: homes took 31 days to find a buyer, up from 28.

Townhouses and condos went the other way. The median sale price for a townhouse or condo was $292,500, down 4.4%, and 42 sold in the month, down from 53. There were 94 townhouses and condos for sale at the end of August, up 23.7%. In adult communities the median was $444,325, up 6.4%, and homes found a buyer in 33 days, down from 48.

From January through August, the median sale price for a single family home was $400,000, up 7.1% from $373,345 over the same months last year. 1,631 homes sold, down 6.7%.

If you are buying here, the extra listings are the part that changed. If you are selling, the price has held up and is still rising. Homes are still selling a little above the asking price, and the ones that sell are usually priced close to what nearby homes recently sold for, not what homes still for sale are asking. Your agent can pull those figures for your own street, which tells you more than a county wide number.