The Long & Foster Market Minute

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

Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
78
Active Inventory
471
Median Sale Price
$345,000
Days On Market
119
Up 5%
Vs. Year Ago
Down -21%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 78 sold this month in Bethany, Fenwick, and Ocean View Real Estate versus 95 last month, a decrease of 18%. This month's total units sold was higher than at this time last year, an increase of 5% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 123 units or 21%. The total number of active inventory this June was 471 compared to 594 in June 2018. This month's total of 471 is lower than the previous month's total supply of available inventory of 507, a decrease of 7%.

Median Sale Price
Last June, the median sale price for Bethany, Fenwick, and Ocean View Homes was $379,500. This June, the median sale price was $345,000, a decrease of 9% or $34,500 compared to last year. The current median sold price is 1% lower than in May.

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


New Listings
100
Current Contracts
77
Sold Vs. List Price
95.6%
Months of Supply
6.0
Down -29%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In June, there was 6.0 months of supply available in Bethany, Fenwick, and Ocean View, compared to 8.0 in June 2018. That is a decrease of 25% 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 100 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 140 in June 2018, a decrease of 29%. There were 77 current contracts pending sale this June compared to 66 a year ago. The number of current contracts is 17% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bethany, Fenwick, and Ocean View was 95.6% of the average list price, which is 1.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 119, lower than the average last year, which was 137, a decrease of 13%.

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.