Is Gloucester City, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gloucester City is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Gloucester City has remained a Seller's Market.

Key Takeaway

Gloucester City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gloucester City, NJ

How much do homes in Gloucester City, NJ cost?

Median Sold Price

$219,000

$156/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$19,100(+9.6%)

Key Takeaway

Homes in Gloucester City have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in Gloucester City was $219,000 in September 2024, up 9.6% from last year, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $97K$113K
+16.5%
2 $170K$202.5K
+19.1%
3 $196K$208K
+6.1%
4 $222.5K$244.5K
+9.9%
5+ $259K$255K
-1.5%

Summary: Gloucester City housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes decreased by 1.5%.

Median Sold Price Compared To Nearby Cities

Camden
+21.5%
Mount Ephraim
+11.1%
Gloucester City
+9.6%
Brooklawn
+5.0%
Haddon Township
+1.2%

Housing Supply in Gloucester City, NJ

How many homes are available in Gloucester City, NJ?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6151-16.4%

Summary: The Gloucester City real estate market had 51 homes for sale in September 2024, a 16.4% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 138
-38.5%
3 2621
-19.2%
4 1817
-5.6%
5+ 45
+25.0%

Summary: The Gloucester City housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 38.5%, 3 bedroom homes decreased by 19.2%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1611-31.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester City, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Gloucester City in September 2024, down by 31.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% 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

Sep 2023Sep 2024CHANGE
19 Days41 Days+106.7%

Summary: Homes in Gloucester City had an average of 41 days on market in Sep 2024, up by 106.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gloucester City are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 11 homes were sold in Gloucester City; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 6 Days Ago

Newest Listings in Gloucester City, NJ

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