Market Update for Gloucester County 1st Quarter 2017

Market Up-Date for Real Estate Gloucester County, New Jersey, including among others as Washington Township, NJ, zip code 08012; Glassboro, NJ, zip code 08028; Pitman, NJ, zip code 08071; Logan, NJ, zip code 08085; and Deptford, NJ, zip code 08096.

For January, February, March of 2017, the medium sales price for Gloucester County, New Jersey was $168,750 down 3.5% from last year; the average sales price was $183,108, down 3.5% from 2016.  The actual sales price received based on the original listing price was 92.2%, an increase of 0.4% from the previous year with an average of 106 days on the market, down 15.0% from 2016.  During this time period in Gloucester County, New Jersey, there were 1838 real estate properties on the market for sale, down 12.2% from 2016, and 824 real estate properties sold, an increase of 22.3% from 2016, with a monthly home supply of 5.5, down 23.7%.

Zip code 08012 for Washington Township, NJ, the medium sales price was $167,000, an increase of 1.5% from 2016.  Real estate properties sold for 92.8% of original listing price, an increase of 2.3% from 2016 with an average of 91 days on the market, down 30.0% from 2016.   During this 1st quarter of 2017, closed real estate sales for Washington Township, New Jersey, accounted for 40 real estate properties, down 53.5% from 2016. 

Zip code 08028 for Glassboro, NJ, the medium sales price was $188,500, an increase of 7.7% from 2016.  Real estate properties sold for 91.4% of the original listing price, a 3.4% decrease from 2016 with average days of 95 on the market, up 33.8% from 2016.  During this 1st quarter of 2017, in Glassboro, New Jersey, 58 real estate properties were sold, up 11.5% from 2016.

Zip code 08071 for Pitman, NJ, the medium sales price was $150,500 up 0.3% from 2016.  Real estate properties sold for 93.7% of the original listing price, an increase of 7.0% compared to 2016 with average days of 107 on the market, down 18.9% from 2016.  During this 1st quarter of 2017, for Pitman, New Jersey, closed real estate sales accounted for 24 real estate properties, an increase of 84.6% from 2016.

Zip code 08085 for Logan, NJ, the medium sales price was $212,000, down 25.06% from 2015.  Real estate properties sold for 92.2% of the original listing price, down 0.4% from 2016 with an average of 141 days on the market, down 7.8% from 2016.  During the 1st quarter of 2016, for Logan, New Jersey, closed sales accounted for 65 real estate properties, up 54.8% from 2016.

Zip code 08096 for Deptford, NJ, the medium sales price was $153,500, down 4.1% from 2016.  Real estate properties sold for 93.3% of the original listing price, up 0.5% from 2016 with an average of 99 days on the market, a decrease of 10.0% from 2016.  During the 1st quarter of 2017, for Deptford, New Jersey, closed sales accounted for 107 real estate properties, an increase of 25.9% from 2016.

EXIT Realty JP Rothermel, Medford New Jersey
Assisting buyers and sellers investing in real estate properties and homes in Southern New Jersey