The Long & Foster Market Minute

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

Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
55
Active Inventory
499
Median Sale Price
$385,000
Days On Market
143
Down
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 55 sold this month in Bethany, Fenwick, and Ocean View Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 7%. The total number of active inventory this March was 499 compared to 537 in March 2018. This month's total of 499 is higher than the previous month's total supply of available inventory of 458, an increase of 9%.

Median Sale Price
Last March, the median sale price for Bethany, Fenwick, and Ocean View Homes was $407,000. This March, the median sale price was $385,000, a decrease of 5% or $22,000 compared to last year. The current median sold price is 15% higher than in February.

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


New Listings
137
Current Contracts
68
Sold Vs. List Price
96.4%
Months of Supply
9.1
Down -4%
Vs. Year Ago
Down -34%
Vs. Year Ago
Down -1.7%
Vs. Year Ago
Up 62%
Vs. Year Ago

Months of Supply
In March, there was 9.1 months of supply available in Bethany, Fenwick, and Ocean View, compared to 5.6 in March 2018. That is an increase of 62% 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 137 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 142 in March 2018, a decrease of 4%. There were 68 current contracts pending sale this March compared to 103 a year ago. The number of current contracts is 34% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bethany, Fenwick, and Ocean View was 96.4% of the average list price, which is 1.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 143, higher than the average last year, which was 100, an increase of 43%.

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.