The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market August 2017

Zip Code(s): 08202 and 08247
Units Sold
22
Active Inventory
255
Median Sale Price
$1,540,000
Days On Market
171
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -15%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up
Vs. Year Ago
Down -2%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 22 sold this month in Avalon and Stone Harbor Real Estate versus 26 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 15% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 13%. The total number of active inventory this August was 255 compared to 293 in August 2016. This month's total of 255 is higher than the previous month's total supply of available inventory of 252, an increase of 1%.

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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 $937,250. This August, the median sale price was $1,540,000, an increase of $602,750 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.

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New Listings
58
Current Contracts
40
Sold Vs. List Price
93.7%
Months of Supply
11.6
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 18%
Vs. Year Ago
Down -25%
Vs. Year Ago
No Change
Vs. Year Ago
Up 3%
Vs. Year Ago

Months of Supply
In August, there was 11.6 months of supply available in Avalon and Stone Harbor, compared to 11.3 in August 2016. That is an increase of 3% 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 58 homes newly listed for sale in Avalon and Stone Harbor compared to 49 in August 2016, an increase of 18%. There were 40 current contracts pending sale this August compared to 53 a year ago. The number of current contracts is 25% lower than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Avalon and Stone Harbor was 93.7% 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 171, lower than the average last year, which was 175, a decrease of 2%.

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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 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.