A Closer Look at the Gloucester Township NJ Real Estate Market: 2022 vs 2023
Introduction:
The real estate market is ever-evolving, impacted by various factors, from economic conditions to buyer preferences. In this article, we will compare the real estate market data from January 1, 2022, through August 31, 2022, and the same dates in 2023, with a particular focus on the number of homes sold, average days on the market, average sold price, and buyer financing methods. By examining these trends, we can gain valuable insights into the market's performance and identify potential shifts. This data is from BrightMLS and may have errors but is deemed reliable. This is also only for Gloucester Township NJ for the dates 1/1/2022- 8/31/2022 and 2023 the same time frame.
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Housing Market Trends in 2022:
In 2022, the housing market in all of Gloucester Twp NJ saw a total of 649 homes sold between January 1 and August 31. Buyers were keen on making quick moves, with an average days-on-market of just 25 days. The average sold price stood at $279,153, while the average list price was slightly lower at $270,089. This trend indicated a healthy market demand, with prices reaching around 3% above the initial asking price on average.
Buyer Financing in 2022:
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