Residential Real Estate in Gloucester Twp. Improves in 2012

For Gloucester Township and many other areas, 2012 proved to be a much better market for real estate. In fact, on a personal note, 2012 proved to be a great year in real estate. The following data comes from TREND MLS and although deemed reliable, it may not be 100 percent accurate. So let’s get on with the 2011 vs. 2012 comparison.

For 2012 in Gloucester Township, March seemed to be when the most homes were listed, at 113, with February running a close second, at 105. In 2011, March and May were tied for the most homes listed, at 120. A total of 1,056 homes were listed in 2012, while in 2011 we saw 1,052 homes listed in our community. In 2012, the listed average for Gloucester Township was $166,156 while for 2011 we had a slightly higher listed average of $168,438. (This comparison does not break down types of property.)

Which brings us to the good news.

In 2011, there were 402 homes that went pending. In 2012, we saw a significant increase to 489 homes pending sale. The busiest month for homes going to pending status in 2011 was August, with 47 pending. October and July 2011 tied for second at 40 homes pending. In 2012 the busiest month for homes pending sale was again August, with 55 homes going pending. July 2012 was second, with 50 pending sales.

The largest number of homes sold in 2011 came in the month of September, with 43, and April, which finished a close second for 42. In 2012, we had a great month of September, with 45 homes sold, and a three-way tie for second in August, July and April, at 44 homes sold.  

The total number of homes sold in 2012 jumped to 474 as compared to just 357 in 2011.

The average days on market, or DOM, dropped a bit for 2012. The average DOM for 2011 was 126 days, while 2012 went down to 118 days.

Mostly good news to report!

The charts included will give a good visual of the comparison.

Search local Gloucester Twp. Homes for Sale here.

Dave Sulvetta is a realtor with RE/MAX Connection.