Real Estate Housing Update December 2021

Have you heard the housing market news!?!

This is Scott Kompa from EXP realty with your first look at the December’s real estate market numbers for Gloucester and Salem County NJ Housing Update.

First, lets take a look at Gloucester County.  In December 2020 to December  2021 the amount of sales were down from 500 to 412 Homes that sold, which is more than sold in the previous month of November 2021 which had only 402 homes sell. 

Gloucester county December year over year numbers are

Average Days on market rose from 27 to 29 days. 

The listing price to sold price in December 2021 was 101%

Average selling price went from 257000 to 295000 which is a 15% increase in year over year pricing.

In Gloucester county, fewer homes have sold, but the market is still a strong sellers market because of the small amount of homes for sale.

 

Now lets take a look at Salem County. In December 2020 to December 2021 the sales were down from 96 homes sold to 90 homes sold and lets compare that to November 2021 where 92 homes sold

Salem County December year over year numbers are

Average Days on market dropped from 87 to 57 days.

The listing price to sold price in December 2021 was 99%

Average selling price went from 185000 to 213000 which is a 15% increase in a year.

In Salem county NJ the market is still a great sellers market, as homes are still selling.  The homes are finally being priced near the selling price of the homes. 

For new activity in 2022, combining both Salem and Gloucester county saw 44 homes listing as new or coming soon, had 53 go under a contract of sale, and 34 homes were sold in the last 7 days. We are seeing more homes get listed for sale and the inventory levels are slowly rising. 

We are still experiencing bidding wars on homes if they are priced correctly.   Now, these aren’t the bidding wars of a few months ago.  Instead of 10 or more offers on each property, we are seeing on average between 4-5 offers on each listing for sale.  The sellers market is not quite over as we still have a strong market. If you are thinking of selling this is the time to take advantage of the market.  But, you have to remember to price your property at the right price. When you price it at the right price, people will fall in love with it and then bid higher to make sure they get the sales contract on it.   If you price it too high, you will not get any offers and you will help other homes sell as your home will sit on the market.

If you have any real estate questions on your particular township, or if you are interested in the value of your home…

You can call, text, email or visit my website at scottkompa.com

When you are looking for a realtor near me, look no farther than the Scott Kompa group who are a team of realtors in Swedesboro. We are also realtor in Mullica Hill, realtor in Woodstown, realtor in Pilesgrove, realtor in Pennsville, realtor in Deptford.  We sell and help people buy a home in Burlington, Camden, Gloucester, and Salem Counties.  So if you are looking to sell your home fast and sell your home for top dollar, then contact us to show you how we sell homes fast and for more than the average real estate agent.

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