The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market April 2018

Zip Code(s): 08202 and 08247
Units Sold
30
Active Inventory
215
Median Sale Price
$1,042,500
Days On Market
210
Down -32%
Vs. Year Ago
Down -17%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 30 sold this month in Avalon and Stone Harbor Real Estate versus 26 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 32% versus April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 17%. The total number of active inventory this April was 215 compared to 260 in April 2017. This month's total of 215 is lower than the previous month's total supply of available inventory of 234, a decrease of 8%.

Median Sale Price
Last April, the median sale price for Avalon and Stone Harbor Homes was $1,117,500. This April, the median sale price was $1,042,500, a decrease of 7% or $75,000 compared to last year. The current median sold price is 3% lower than in March.

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


New Listings
37
Current Contracts
38
Sold Vs. List Price
94.4%
Months of Supply
7.2
Down -27%
Vs. Year Ago
Up 9%
Vs. Year Ago
No Change
Vs. Year Ago
Up 21%
Vs. Year Ago

Months of Supply
In April, there was 7.2 months of supply available in Avalon and Stone Harbor, compared to 5.9 in April 2017. That is an increase of 21% 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 37 homes newly listed for sale in Avalon and Stone Harbor compared to 51 in April 2017, a decrease of 27%. There were 38 current contracts pending sale this April compared to 35 a year ago. The number of current contracts is 9% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Avalon and Stone Harbor was 94.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 210, higher than the average last year, which was 197, an increase of 7%.

The Long & Foster Market Minute Avalon and Stone Harbor are defined as properties listed in zip code/s 08202 and 08247.
*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 CMCAOR 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 CMCAOR or Long & Foster Real Estate, Inc.