Is Gloucester Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Gloucester Township has remained a Seller's Market.
Housing Prices in Gloucester Township, NJ
How much do homes in Gloucester Township, NJ cost?
Median Sold Price
$315,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gloucester Township was $315,000 in May 2024, up 12.5% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $105K | $135K | +28.6% |
2 Bedrooms | $170K | $212K | +24.7% |
3 Bedrooms | $275.1K | $305K | +10.9% |
4 Bedrooms | $352.5K | $385K | +9.2% |
5+ Bedrooms | $410K | $475K | +15.9% |
Summary: Gloucester Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 24.7%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 15.9%.
Median Sold Price Compared To Nearby Cities
Gloucester Township | $280K | $315K | +12.5% |
Blackwood | $300.4K | $320.2K | +6.6% |
Washington Township | $340.9K | $358.1K | +5.1% |
Housing Supply in Gloucester Township, NJ
How many homes are available in Gloucester Township, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
207 | 235 | +13.5% |
Summary: The Gloucester Township real estate market had 235 homes for sale in May 2024, a 13.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 3 | -40.0% |
2 Bedrooms | 33 | 27 | -18.2% |
3 Bedrooms | 104 | 125 | +20.2% |
4 Bedrooms | 54 | 72 | +33.3% |
5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Gloucester Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 51 | +4.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in Gloucester Township in May 2024, up by 4.1% month-over-month. Of the 50 sold homes, 18% were sold under asking, 18% were sold at asking, and 64% were sold over asking.
Days on Market for Gloucester Township, NJ
How long does it take to sell a home in Gloucester Township, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 20 Days | -13.2% |
Summary: Homes in Gloucester Township had an average of 20 days on market in May 2024, down by 13.2% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 51 homes were sold in Gloucester Township; 76% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.