(All residential sales from 1/1/2013 – 12/31/13 as reported by *TReND MLS)
Still historically low interest rates and limited inventory in 2013 fueled some brisk buying in Gloucester Twp NJ and hopefully will continue into 2014. As prices seem to be leveling, homeowners in Gloucester Twp, are finding on average, shorter days on market times and some are even finding their homes in bidding wars.
Sold Statistics
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Over 500 homes sold in Gloucester Twp NJ. In fact, 566 homes sold in our town; 9 of which were new construction. What the numbers show is majority of the homes that sold, did so in the spring or very early summer market. More than 300 homes sold by the end of July, while the remaining sales scattered throughout the rest of the year. The hottest months were June, July & May, respectively. The month of June, had 59 sales, being the hottest month of the year with July and May coming in close seconds.
How Many Days Can You Expect Your Home To Be On The Market?
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Much of that question relies on the condition, upgrades, pricing, marketing and let’s not forget location of your home. The average DOM or “Days On Market” was 136 Days. This number is calculated from the time the home goes on the market until the home goes to PND or “Pending” status.
Gloucester Twp NJ Most Active Neighborhoods
Although sales were brisk throughout our community, the areas listed below had the most homes sold. However, please keep in mind these communities may simply have had more homes on the market and I have only posted the top numbers from our area.
· Valleybrook 43 sales
· Blackwood Estates 26 sales
· Shenandoah Village 23 sales
· Glen Oaks 20 sales
· Cherrywood 19 sales
· Clementona 17 sales
· Cobblestone 13 sales
Let’s Talk Money
The average sold price for Gloucester Township was $150760. The lowest priced home that sold was $24,000 with the highest priced home being sold at $387700. (Cobblestone) Homeowner’s that sold received on average 96% of asking price. There were 251 concessions to buyers in 2013 of which on average was $5041.
Is Cash Still King?
146 people paid cash for their purchase and the rest paid by the following.
· 182 Conventional
· 209 FHA
· 25 VA
· 4 other type of financing
Still Some Distressed Properties
The ugly part of 2013 Gloucester Twp NJ sales was the fact that we still have some distressed homes. There were 82 short sales sold and 46 bank owned homes sold.
Clearly, we had a great 2013 and my feeling is many people interested in selling their home still held back. I believe our market is leveling out and with interest rates still being very low, if you have had thoughts of listing your home, you may want to consider speaking to a realtor J now. A recent Lending Tree survey, revealed the following:
Of the people that Lending Tree Surveyed -63% have a positive outlook on the economy this year - 69% have a positive outlook on housing this year 71% said they are considering selling their home this year. Number 3 happens to be an enormous number.
My next post will be home selling tips.
Search ALL Gloucester Twp NJ Real Estate For Sale
*although I have done my best to make sure these numbers are accurate, they still may contain errors.
Dave Sulvetta is a Top Producing Realtor with REMAX Connection
