$1,781 Closing Credit*
$150,000
952 SqFt
3 Beds
•1 Full Bath
Robert Bunis, Listing Office: Prime Realty Partners
Is Gloucester City, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Gloucester City has remained a Seller's Market.
Key Takeaway
Gloucester City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gloucester City, NJ
How much do homes in Gloucester City, NJ cost?
Median Sold Price
$215,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+7.5%)
Key Takeaway
Homes in Gloucester City have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Gloucester City was $215,000 in October 2024, up 7.5% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97K | $113K | +16.5% |
| 2 Bedrooms | $164K | $206.3K | +25.8% |
| 3 Bedrooms | $200K | $203.5K | +1.8% |
| 4 Bedrooms | $222.5K | $244K | +9.6% |
| 5+ Bedrooms | $259K | $257.5K | -0.6% |
Summary: Gloucester City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Camden | $105.5K | $135K | +28.0% |
| Mount Ephraim | $270K | $299.9K | +11.1% |
| Gloucester City | $200K | $215K | +7.5% |
| Brooklawn | $200K | $210.5K | +5.3% |
| Haddon Township | $421.5K | $420K | -0.4% |
Housing Supply in Gloucester City, NJ
How many homes are available in Gloucester City, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 55 | 59 | +7.3% |
Summary: The Gloucester City real estate market had 59 homes for sale in October 2024, a 7.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 22 | 31 | +40.9% |
| 4 Bedrooms | 20 | 16 | -20.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Gloucester City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 40.9%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gloucester City, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Gloucester City in October 2024, up by 14.3% month-over-month. Of the 16 sold homes, 31% were sold under asking, 13% were sold at asking, and 56% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 20 Days | -17.1% |
Summary: Homes in Gloucester City had an average of 20 days on market in Oct 2024, down by 17.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 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 October 2024, 16 homes were sold in Gloucester City; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
