Atlantic County Housing Market Data

There was a decrease in total units sold in February, with 262 sold this month in Atlantic County Real Estate versus 264 last month, a decrease of 1%. This month's total units sold was higher than at this time last year, an increase of 4% versus February 2019.

Versus last year, the total number of homes available this month is lower by 59 units or 2%. The total number of active inventory this February was 2522 compared to 2,581 in February 2019. This month's supply remained stable as compared to last month.

Last February, the median sale price for Atlantic County Homes was $165,750. This February, the median sale price was $204,500, an increase of 23% or $38,750 compared to last year. The current median sold price is 15% higher than in January.

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

In February, there was 9.6 months of supply available in Atlantic County, compared to 10.2 in February 2019. That is a decrease of 6% 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.

This month there were 639 homes newly listed for sale in Atlantic County compared to 689 in February 2019, a decrease of 7%. There were 406 current contracts pending sale this February compared to 345 a year ago. The number of current contracts is 18% higher than last February.

In February, the average sale price in Atlantic County was 94.6% of the average list price, which is 0.5% lower than at this time last year.

This month, the average number of days on market was 81, higher than the average last year, which was 72, an increase of 13%.





Focus On: Atlantic County Housing Market			February 2020

Units Sold 262	Active Inventory 2,522	Median Sale Price $204,500	Days On Market 81

Up 4% Vs. Year Ago	Down -2% Vs. Year Ago	Up 23% Vs. Year Ago	Up 13% Vs. Year Ago


		Units Sold There was a decrease in total units sold in February, with 262 sold this month in Atlantic County Real Estate versus 264 last month, a decrease of 1%. This month's total units sold was higher than at this time last year, an increase of 4% versus February 2019.
Active Inventory Versus last year, the total number of homes available this month is lower by 59 units or 2%. The total number of active inventory this February was 2522 compared to 2,581 in February 2019. This month's supply remained stable as compared to last month.
		Median Sale Price Last February, the median sale price for Atlantic County Homes was $165,750. This February, the median sale price was $204,500, an increase of 23% or $38,750 compared to last year. The current median sold price is 15% higher than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 639	Current Contracts 406	Sold Vs. List Price 94.6%	Months of Supply 9.6

Down -7% Vs. Year Ago	Up 18% Vs. Year Ago	Down -0.5% Vs. Year Ago	Down -6% Vs. Year Ago


		Months of Supply In February, there was 9.6 months of supply available in Atlantic County, compared to 10.2 in February 2019. That is a decrease of 6% 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 639 homes newly listed for sale in Atlantic County compared to 689 in February 2019, a decrease of 7%. There were 406 current contracts pending sale this February compared to 345 a year ago. The number of current contracts is 18% higher than last February.
		Sale Price to List Price Ratio In February, the average sale price in Atlantic County was 94.6% of the average list price, which is 0.5% lower than at this time last year. Days on Market This month, the average number of days on market was 81, higher than the average last year, which was 72, an increase of 13%.



	*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.
	Information included in this report is based on data supplied by SJSMLS 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 SJSMLS or Long & Foster Real Estate, Inc.