Is Gloucester City, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Gloucester City was a Seller's Market.
Key Takeaway
Gloucester City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Gloucester City, NJ
How much do homes in Gloucester City, NJ cost?
Median Sold Price
$200,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gloucester City have sold for 10% more than they did a year ago.
Summary: The median home sold price in Gloucester City was $200,000 in March 2024, up 10% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $42.5K | $116K | +172.9% |
| 2 Bedrooms | $152.5K | $170K | +11.5% |
| 3 Bedrooms | $188.7K | $196K | +3.8% |
| 4 Bedrooms | $217K | $235K | +8.3% |
| 5+ Bedrooms | $189.5K | $245K | +29.3% |
Summary: Gloucester City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 172.9%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 29.3%.
Median Sold Price Compared To Nearby Cities
| Mount Ephraim | $235K | $287K | +22.1% |
| Camden | $97.8K | $115.1K | +17.7% |
| Brooklawn | $175K | $205K | +17.1% |
| Haddon Township | $376.5K | $420K | +11.6% |
| Gloucester City | $181.7K | $200K | +10.0% |
Housing Supply in Gloucester City, NJ
How many homes are available in Gloucester City, NJ?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 84 | 80 | -4.8% |
Summary: The Gloucester City real estate market had 80 homes for sale in March 2024, a 4.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 47 | 42 | -10.6% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Gloucester City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 7 | -65.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gloucester City, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Gloucester City in March 2024, down by 65.0% month-over-month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 17 Days | -49.9% |
Summary: Homes in Gloucester City had an average of 17 days on market in Mar 2024, down by 49.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gloucester City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Gloucester City; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
