Health & Fitness
A Look at the Gloucester Twp. Real Estate Market
Although we are experiencing a decline, it is very minor and certainly not at the pace the media is telling us in our area.
Here is a comparison of the October 2010 and October 2011 real estate markets in Gloucester Township.
Eight fewer homes were listed this October as compared to last year, with the listed average price dropping by $9,521. Ten more units went pending in October 2011 compared to October 2010.
A total of 27 units were sold in October 2011, down from 32 in October 2010.
Find out what's happening in Gloucester Townshipwith free, real-time updates from Patch.
The sold volume decreased slightly from October 2010 (down $843,559 total), while the sold average only dropped a mere $767. The average days-on-the-market figure increased by 46 days.
What do these numbers mean? There is just no way to tell right now. Although we are experiencing a decline, it is very minor and certainly not at the pace the media is telling us in our area. Also, real estate is local and what might be happening in other parts of the country, even other parts of New Jersey, may have no baring on Gloucester Township. The days-on-the-market figure could mean that we need to pay closer attention to where we are setting our home prices.
Find out what's happening in Gloucester Townshipwith free, real-time updates from Patch.
Please view the charts to the right. They provide a more in-depth view of the data.
Statistics were taken from TREND MLS.
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Dave Sulvetta is full-time, award-winning Realtor with RE/MAX Connection, which has offices in Marlton, Mantua and Turnersville.
