The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market January 2018

Zip Code(s): 08202 and 08247
Units Sold
22
Active Inventory
215
Median Sale Price
$1,770,000
Days On Market
231
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -33%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
The number of units sold remained stable in January, with 22 sold this month in Avalon and Stone Harbor Real Estate. This month's total units sold was lower than at this time last year, a decrease of 2% versus January 2017.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 44 units or 17%. The total number of active inventory this January was 215 compared to 259 in January 2017. This month's total of 215 is lower than the previous month's total supply of available inventory of 219, a decrease of 2%.

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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 $1,460,000. This January, the median sale price was $1,770,000, an increase of $310,000 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
52
Current Contracts
23
Sold Vs. List Price
95.0%
Months of Supply
9.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 2%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Up 24%
Vs. Year Ago

Months of Supply
In January, there was 9.8 months of supply available in Avalon and Stone Harbor, compared to 7.8 in January 2017. That is an increase of 25% 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 52 homes newly listed for sale in Avalon and Stone Harbor compared to 51 in January 2017, an increase of 2%. There were 23 current contracts pending sale this January compared to 33 a year ago. The number of current contracts is 30% lower 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 95.0% of the average list price, which is 2.3% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 231, lower than the average last year, which was 258, a decrease of 10%.

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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.