The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market January 2019

Zip Code(s): 08202 and 08247
Units Sold
19
Active Inventory
223
Median Sale Price
$1,300,000
Days On Market
125
Down -14%
Vs. Year Ago
No Change
Vs. Year Ago
Down
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 19 sold this month in Avalon and Stone Harbor Real Estate versus 25 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 14% versus January 2018.

Active Inventory
The total number of homes available this month is 223 units, which is similar compared to a year ago. This month's total of 223 is higher than the previous month's total supply of available inventory of 214, an increase of 4%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last January, the median sale price for Avalon and Stone Harbor Homes was $1,770,000. This January, the median sale price was $1,300,000, a decrease of $470,000 compared to last year. The current median sold price is lower than in December.

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
20
Sold Vs. List Price
94.3%
Months of Supply
11.7
Up 6%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In January, there was 11.7 months of supply available in Avalon and Stone Harbor, compared to 10.2 in January 2018. That is an increase of 15% 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 52 in January 2018, an increase of 6%. There were 20 current contracts pending sale this January compared to 23 a year ago. The number of current contracts is 13% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Avalon and Stone Harbor was 94.3% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 125, lower than the average last year, which was 231, a decrease of 46%.

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.