The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market August 2018

Zip Code(s): 08202 and 08247
Units Sold
24
Active Inventory
239
Median Sale Price
$1,355,000
Days On Market
172
No Change
Vs. Year Ago
Down -6%
Vs. Year Ago
Down
Vs. Year Ago
Down -1%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 24 sold this month in Avalon and Stone Harbor Real Estate, a decrease of 8%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 6%. The total number of active inventory this August was 239 compared to 254 in August 2017. This month's total of 239 is lower than the previous month's total supply of available inventory of 247, a decrease of 3%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last August, the median sale price for Avalon and Stone Harbor Homes was $1,540,000. This August, the median sale price was $1,355,000, a decrease of $185,000 compared to last year. The current median sold price is 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.


New Listings
55
Current Contracts
45
Sold Vs. List Price
92.9%
Months of Supply
10.0
Down -7%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -6%
Vs. Year Ago

Months of Supply
In August, there was 10.0 months of supply available in Avalon and Stone Harbor, compared to 10.6 in August 2017. 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 55 homes newly listed for sale in Avalon and Stone Harbor compared to 59 in August 2017, a decrease of 7%. There were 45 current contracts pending sale this August compared to 43 a year ago. The number of current contracts is 5% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Avalon and Stone Harbor was 92.9% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 172, lower than the average last year, which was 173, a decrease of 1%.

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.