The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market December 2018

Zip Code(s): 08202 and 08247
Units Sold
25
Active Inventory
214
Median Sale Price
$1,595,000
Days On Market
143
Up
Vs. Year Ago
Down -7%
Vs. Year Ago
Up
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in December, with 25 sold this month in Avalon and Stone Harbor Real Estate. This month's total units sold was higher than at this time last year, an increase from December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 7%. The total number of active inventory this December was 214 compared to 229 in December 2017. This month's total of 214 is lower than the previous month's total supply of available inventory of 229, a decrease of 7%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last December, the median sale price for Avalon and Stone Harbor Homes was $785,000. This December, the median sale price was $1,595,000, an increase of $810,000 compared to last year. The current median sold price is higher than in November.

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


New Listings
11
Current Contracts
15
Sold Vs. List Price
95.5%
Months of Supply
8.6
Down -48%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In December, there was 8.6 months of supply available in Avalon and Stone Harbor, compared to 10.4 in December 2017. That is a decrease of 18% 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 11 homes newly listed for sale in Avalon and Stone Harbor compared to 21 in December 2017, a decrease of 48%. There were 15 current contracts pending sale this December compared to 12 a year ago. The number of current contracts is 25% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Avalon and Stone Harbor was 95.5% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 143, lower than the average last year, which was 215, a decrease of 33%.

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.