The Long & Foster Market Minute

Focus On: Atlantic County Housing Market August 2017

Units Sold
389
Active Inventory
3,850
Median Sale Price
$180,694
Days On Market
90
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 3%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 389 sold this month in Atlantic County Real Estate versus 337 last month, an increase of 15%. This month's total units sold was higher than at this time last year, an increase of 3% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 611 units or 14%. The total number of active inventory this August was 3,850 compared to 4,461 in August 2016. This month's total of 3,850 is lower than the previous month's total supply of available inventory of 3,921, a decrease of 2%.

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Median Sale Price
Last August, the median sale price for Atlantic County Homes was $155,000. This August, the median sale price was $180,694, an increase of 17% or $25,694 compared to last year. The current median sold price is 3% higher 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.

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New Listings
668
Current Contracts
470
Sold Vs. List Price
94.2%
Months of Supply
9.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -12%
Vs. Year Ago
Up 12%
Vs. Year Ago
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In August, there was 9.9 months of supply available in Atlantic County, compared to 11.8 in August 2016. That is a decrease of 16% 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.

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New Listings & Current Contracts
This month there were 668 homes newly listed for sale in Atlantic County compared to 760 in August 2016, a decrease of 12%. There were 470 current contracts pending sale this August compared to 420 a year ago. The number of current contracts is 12% higher than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Atlantic County was 94.2% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 90, lower than the average last year, which was 107, a decrease of 16%.

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The Long & Foster Market Minute *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 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.