Gloucester Township, NJ Real Estate Market Report: November 24 – November 30, 2024 📈🏡

If you're keeping an eye on the Gloucester Township real estate market, here's the latest scoop for the week ending November 30, 2024! Whether you're a buyer, seller, or just curious, this data-packed summary has everything you need to stay informed.

📊 Market Highlights

  1. Active Listings:

    • 72 properties are currently active on the market.
    • The average list price is $362,560.
    • Collectively, the total value of active homes is $25,561,640.

  2. Homes Under Contract:

    • 4 homes are under contract with a combined value of $319,725.

  3. Coming Soon Properties:

    • 2 homes are expected to hit the market soon, giving buyers more options!

  4. Pending Sales:

    • 4 homes are pending sale with an average price of $366,398, reflecting a slight decrease from last week.

  5. Closed Sales:

    • 11 homes were sold last week—down from the previous week.
    • The average closed price was $320,791, which also reflects a downward trend.
    • Total closed sales amounted to $3,528,700.
    • The average price per square foot was $199.25—up from last week, showing growing buyer confidence in quality.
    • Homes sold quickly, with an average Days on Market of 15 days.

💰 Seller Insights

  • Sellers received 3.47% over asking price on average, a notable increase from last week.
  • No seller concessions were given, showcasing strong demand and competitive offers.

🏘️ Buyer Activity

  • 1 cash buyer sealed the deal last week.
  • Financing methods for buyers:
    • 7 conventional loans
    • 2 FHA loans
    • 1 VA loan

🏠 Property Features

  • 4 homes included basements.
  • 6 homes featured garages, catering to buyers looking for convenience and storage.

⛔ Expired Listings

  • 4 homes expired off the market, signaling the importance of competitive pricing and marketing strategies.

Key Takeaways 🔑

  • Sellers: With homes selling above asking price and quickly, it’s a great time to list your property. Ensure competitive pricing and strong presentation to attract serious buyers.
  • Buyers: The market is active but competitive—act quickly and come prepared with strong offers to secure your dream home.
  • Investors: Rising price-per-square-foot trends and quick sales highlight Gloucester Township’s strong market potential for returns.

Stay tuned for more updates as we head into December! The Gloucester Township real estate market continues to evolve, and these insights help you stay one step ahead. 🏘️📊

Need assistance buying or selling? Contact a local expert to guide you through the process and maximize your opportunities in this dynamic market! 😊

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contact Dave Sulvetta ☎️ 856.889.8163

 

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