The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market September 2018

Zip Code(s): 08202 and 08247
Units Sold
65
Active Inventory
227
Median Sale Price
$1,450,000
Days On Market
165
Up 30%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 65 sold this month in Avalon and Stone Harbor Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 12%. The total number of active inventory this September was 227 compared to 257 in September 2017. This month's total of 227 is lower than the previous month's total supply of available inventory of 239, a decrease of 5%.

Median Sale Price
Last September, the median sale price for Avalon and Stone Harbor Homes was $1,302,000. This September, the median sale price was $1,450,000, an increase of 11% or $148,000 compared to last year. The current median sold price is 7% higher than in August.

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


New Listings
57
Current Contracts
55
Sold Vs. List Price
95.8%
Months of Supply
3.5
Up 6%
Vs. Year Ago
Up 53%
Vs. Year Ago
No Change
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In September, there was 3.5 months of supply available in Avalon and Stone Harbor, compared to 5.1 in September 2017. That is a decrease of 32% 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 57 homes newly listed for sale in Avalon and Stone Harbor compared to 54 in September 2017, an increase of 6%. There were 55 current contracts pending sale this September compared to 36 a year ago. The number of current contracts is 53% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Avalon and Stone Harbor was 95.8% 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 165, lower than the average last year, which was 194, a decrease of 15%.

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.