Did the market stay on 🔥 of come to a screeching halt?
How is this going to affect you?
This is Scott Kompa from EXP realty with your first look at the monthly market data from January 2021.
First, let’s take a look at Gloucester County. In January 2020 there were 288 homes sold. In January 2021 that number is up 8% to 312 Homes that sold. The average price of the homes sold rose over 24% to $257,000. Average Days on market Dropped from 73 days to 33 days. The ratio of asking price to the sold price went from 98.5% to 100.3%
In Salem County January 2020 there were 44 homes sold. And in January 2021 the amount of houses that sold rose 75% to 72 homes sold. The average selling price also increased by 35% to $199,000. Salem counties average days on market also decreased from 89 to 71. The asking price to the sold price rose from 94.4% to 97.9%.
For 2021, we are starting the year with the lowest amount of homes for sale in recent history. Homes in Gloucester county that were put on the market for sale dropped from 463 to 419 with 399 homes going under contract. Salem county also had the number of newly listed homes drop from 106 to 91 and had 71 homes go under contract.
We are still having bidding wars as currently sellers are in the driver’s seat as Interest rates remain low and the spring market is right around the corner.
If you ever had thoughts of selling or buying, NOW more than ever it is important to partner with an experienced expert to get you the right price and the terms that you want.
If you have any questions on your township, or if you are thinking of buying or selling
You can call, text, email or visit my website at scottkompa.com
When you need the best real estate agent to sell your home in contact top Realtor Scott Kompa. Who you work with matters.