Is Gloucester City, 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 City has remained a Seller's Market.
Housing Prices in Gloucester City, NJ
How much do homes in Gloucester City, NJ cost?
Median Sold Price
$204,500
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gloucester City was $204,500 in May 2024, up 8.3% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $35K | $113K | +222.9% |
2 Bedrooms | $155K | $177.9K | +14.8% |
3 Bedrooms | $192K | $200K | +4.2% |
4 Bedrooms | $219K | $237K | +8.2% |
5+ Bedrooms | $199.5K | $250K | +25.3% |
Summary: Gloucester City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 222.9%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 25.3%.
Median Sold Price Compared To Nearby Cities
Brooklawn | $172.5K | $210.5K | +22.0% |
Camden | $99.9K | $121.5K | +21.6% |
Mount Ephraim | $245K | $286K | +16.7% |
Haddon Township | $392.5K | $427.9K | +9.0% |
Gloucester City | $188.7K | $204.5K | +8.3% |
Housing Supply in Gloucester City, NJ
How many homes are available in Gloucester City, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 58 | +5.5% |
Summary: The Gloucester City real estate market had 58 homes for sale in May 2024, a 5.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 7 | 7 | 0.0% |
3 Bedrooms | 32 | 32 | 0.0% |
4 Bedrooms | 10 | 13 | +30.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Gloucester City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 12 | -20.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Gloucester City in May 2024, down by 20.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Gloucester City, NJ
How long does it take to sell a home in Gloucester City, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 38 Days | +9.5% |
Summary: Homes in Gloucester City had an average of 38 days on market in May 2024, up by 9.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Gloucester City; 50% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.