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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gloucester Township is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Gloucester Township, NJ

How much do homes in Gloucester Township, NJ cost?

Median Sold Price

$325,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$33,321(+11.4%)

Key Takeaway

Homes in Gloucester Township have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Gloucester Township was $325,000 in September 2024, up 11.4% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $117.5K$142K
+20.9%
2 $180K$202K
+12.2%
3 $280K$315K
+12.5%
4 $375K$403.7K
+7.7%
5+ $432.4K$484.2K
+12.0%

Summary: Gloucester Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 12%.

Median Sold Price Compared To Nearby Cities

Stratford
+14.7%
Gloucester Township
+11.4%
Blackwood
+7.0%
Washington Township
+4.9%

Housing Supply in Gloucester Township, NJ

How many homes are available in Gloucester Township, NJ?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
214212-0.9%

Summary: The Gloucester Township real estate market had 212 homes for sale in September 2024, a 0.9% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 44
0.0%
2 2323
0.0%
3 9293
+1.1%
4 8682
-4.7%
5+ 910
+11.1%

Summary: The Gloucester Township 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 remained the same, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
6454-15.6%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester Township, you could pay more than the asking price. 63% of homes here sold above asking price last month.

Summary: A total of 54 homes were sold or pending in Gloucester Township in September 2024, down by 15.6% month-over-month. Of the 54 sold homes, 20% were sold under asking, 17% were sold at asking, and 63% 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

Sep 2023Sep 2024CHANGE
17 Days24 Days+42.6%

Summary: Homes in Gloucester Township had an average of 24 days on market in Sep 2024, up by 42.6% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 54 homes were sold in Gloucester Township; 72% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 4% 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 8 Days Ago

Newest Listings in Gloucester Township, NJ

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