The Long & Foster Market Minute
Focus On: Avalon and Stone Harbor Housing Market January 2017
Zip Code(s): 08202 and 08247
Units Sold
31
Active Inventory
266
Median Sale Price
$1,590,400
Days On Market
262
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
No Change
Vs. Year Ago
Down -14%
Vs. Year Ago
Down
Vs. Year Ago
Up 40%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in January, with 31 sold this month in Avalon and Stone Harbor Real Estate, a decrease of 3%. This month's total units sold is similar compared to a year ago.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 42 units or 14%. The total number of active inventory this January was 266 compared to 308 in January 2016. This month's supply remained stable as compared to last month.

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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 January, the median sale price for Avalon and Stone Harbor Homes was $1,675,000. This January, the median sale price was $1,590,400, a decrease of $84,600 compared to last year. The current median sold price is higher 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.

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New Listings
48
Current Contracts
28
Sold Vs. List Price
92.7%
Months of Supply
8.6
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 12%
Vs. Year Ago
Up 27%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -14%
Vs. Year Ago
Months of Supply
In January, there was 8.6 months of supply available in Avalon and Stone Harbor, compared to 9.9 in January 2016. That is a decrease of 14% 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 48 homes newly listed for sale in Avalon and Stone Harbor compared to 43 in January 2016, an increase of 12%. There were 28 current contracts pending sale this January compared to 22 a year ago. The number of current contracts is 27% higher than last January.

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Sale Price to List Price Ratio
In January, the average sale price in Avalon and Stone Harbor was 92.7% of the average list price, which is 0.9% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 262, higher than the average last year, which was 187, an increase of 40%.

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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.