Gloucester County Housing Prices Jumped 175 Percent

FOR IMMEDIATE RELEASE February 24, 2006 Gloucester County Housing Prices Jumped 17.5 Percent in the Fourth Quarter of 2005 The county also saw a 7.4 percent decrease in the number of residential homes sold DEVON, PA - Gloucester County median home prices jumped 17.5 percent to $200,000 in the fourth quarter of 2005, according to Prudential Fox & Roach REALTORS® HomExpert Market Report ©. The median sale price of homes in the fourth quarter of 2004 was $170,200. In the fourth quarter of 2005, the county saw 875 homes sold, a 7.4 percent decrease, compared to 945 homes sold in 2004. The average number of days a home remained on the market increased from 38 days in the fourth quarter of 2004 to 41 days in the fourth quarter of 2005. The median price of new listings of homes in Gloucester County also increased in the fourth quarter by 15.5 percent to $229,900 in 2005 from $199,000 in 2004, according to the HomExpert Market Report. Gloucester County averaged 1,193 homes per month available for sale in the fourth quarter of 2005, an increase of 21.2 percent from 985 homes per month during the same time in 2004. Other fourth quarter HomExpert Market Report findings: - Mercer County led with the highest median sale price in the five-county region at $262,000, followed by Burlington County ($238,650), Gloucester County ($200,000), Camden County ($185,000), and Salem County ($169,900). - Salem County led the five-county region in median price increase with a jump of 30.7 percent. Gloucester County posted an increase of 17.5 percent followed by Camden County at 15.6 percent, Burlington County at 15.2 percent and Mercer County at 13.9 percent. - Camden County sold 1,968 homes in the fourth quarter of 2005, a decrease of 9.2 percent. Burlington County sold 1,637 homes, a decrease of 12.2 percent, Mercer County sold 1,292 homes, an increase of 13.9 percent, Gloucester County sold 875 an decrease of 7.4 percent, and Salem County sold 211 homes in 2005, the same amount sold in the fourth quarter of 2004. About Prudential Fox & Roach REALTORS Prudential Fox & Roach, REALTORS®, the nation's fourth largest provider of home services, is an independently owned and operated member of the Prudential Real Estate Affiliate, Inc. and the largest Prudential affiliate in the country. As the Tri-State area's real estate Atlanta Home Mortgages research home mortgage options with a real estate bro leader, the company has more than 63 sales locations and 3,600 associates. Through its affiliate, the Trident Group, the company provides one-stop shopping and facilitated services to its clients including mortgage financing and title, property and casualty insurance. About HomExpert The 2006 HomExpert Market Report is a product of the Prudential Fox & Roach Realtors' Research Division. Findings were compiled using the company's exclusive HomExpert service, which analyzes TreND Multiple Listing Service (MLS) data and provides up-to-the-minute statistics. HomExpert offers exclusive analysis of real estate Real Estate Investing From Cash To Properties of credit instead of cash to buy real estate. There activity regionally, by county, MLS area or zip code across the Prudential Fox & Roach service area. ###

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