The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market March 2021

Zip Code(s): 08202 and 08247
Units Sold
27
Active Inventory
76
Median Sale Price
$1,620,000
Days On Market
124
Up 23%
Vs. Year Ago
Down -64%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 27 sold this month in Avalon and Stone Harbor Real Estate versus 26 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 23% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 136 units or 64%. The total number of active inventory this March was 76 compared to 212 in March 2020. This month's total of 76 is higher than the previous month's total supply of available inventory of 73, an increase of 4%.

Median Sale Price
Last March, the median sale price for Avalon and Stone Harbor Homes was $1,580,000. This March, the median sale price was $1,620,000, an increase of 3% or $40,000 compared to last year. The current median sold price is 5% lower than in February.

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
33
Sold Vs. List Price
97.6%
Months of Supply
2.8
Up 3%
Vs. Year Ago
Up 65%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -71%
Vs. Year Ago

Months of Supply
In March, there was 2.8 months of supply available in Avalon and Stone Harbor, compared to 9.6 in March 2020. That is a decrease of 71% 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 36 in March 2020, an increase of 3%. There were 33 current contracts pending sale this March compared to 20 a year ago. The number of current contracts is 65% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Avalon and Stone Harbor was 97.6% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 124, lower than the average last year, which was 148, a decrease of 16%.

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.