The Long & Foster Market Minute

Focus On: Gloucester County Housing Market June 2021

Units Sold
548
Active Inventory
503
Median Sale Price
$269,450
Days On Market
18
Up 27%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -70%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 548 sold this month in Gloucester County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 316 units or 39%. The total number of active inventory this June was 503 compared to 819 in June 2020. This month's total of 503 is lower than the previous month's total supply of available inventory of 509, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Gloucester County Homes was $215,000. This June, the median sale price was $269,450, an increase of $54,450 compared to last year. The current median sold price is higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
595
Current Contracts
522
Sold Vs. List Price
103.7%
Months of Supply
0.9
Up 14%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Gloucester County, compared to 1.9 in June 2020. That is a decrease of 51% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 595 homes newly listed for sale in Gloucester County compared to 523 in June 2020, an increase of 14%. There were 522 current contracts pending sale this June compared to 537 a year ago. The number of current contracts is 3% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Gloucester County was 103.7% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 61, a decrease of 70%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.