The Long & Foster Market Minute

Focus On: Bethany, Fenwick, and Ocean View Housing Market August 2019

Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
90
Active Inventory
453
Median Sale Price
$378,500
Days On Market
112
Up 34%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 90 sold this month in Bethany, Fenwick, and Ocean View Real Estate versus 67 last month, an increase of 34%. This month's total units sold was higher than at this time last year, an increase of 34% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 151 units or 25%. The total number of active inventory this August was 453 compared to 604 in August 2018. This month's total of 453 is lower than the previous month's total supply of available inventory of 461, a decrease of 2%.

Median Sale Price
Last August, the median sale price for Bethany, Fenwick, and Ocean View Homes was $339,000. This August, the median sale price was $378,500, an increase of 12% or $39,500 compared to last year. The current median sold price is 13% lower than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
99
Current Contracts
78
Sold Vs. List Price
95.4%
Months of Supply
5.0
Down -8%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -1.6%
Vs. Year Ago
Down -44%
Vs. Year Ago

Months of Supply
In August, there was 5.0 months of supply available in Bethany, Fenwick, and Ocean View, compared to 9.0 in August 2018. That is a decrease of 44% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 99 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 108 in August 2018, a decrease of 8%. There were 78 current contracts pending sale this August compared to 70 a year ago. The number of current contracts is 11% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Bethany, Fenwick, and Ocean View was 95.4% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 112, higher than the average last year, which was 105, an increase of 7%.

The Long & Foster Market Minute Bethany, Fenwick, and Ocean View are defined as properties listed in zip code/s 19930, 19944, 19970 and 19967.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.