The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market August 2018

Zip Code(s): 08203 and 08401
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 22%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 78 sold this month in Brigantine and Atlantic City Real Estate versus 88 last month, a decrease of 11%. This month's total units sold was higher than at this time last year, an increase of 22% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 129 units or 18%. The total number of active inventory this August was 575 compared to 704 in August 2017. This month's total of 575 is lower than the previous month's total supply of available inventory of 599, a decrease of 4%.

Median Sale Price
Last August, the median sale price for Brigantine and Atlantic City Homes was $178,500. This August, the median sale price was $153,000, a decrease of 14% or $25,500 compared to last year. The current median sold price is 12% lower than in July.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -7%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In August, there was 7.4 months of supply available in Brigantine and Atlantic City, compared to 11.0 in August 2017. That is a decrease of 33% 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 115 homes newly listed for sale in Brigantine and Atlantic City compared to 123 in August 2017, a decrease of 7%. There were 100 current contracts pending sale this August compared to 81 a year ago. The number of current contracts is 23% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Brigantine and Atlantic City was 95.8% 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 122, lower than the average last year, which was 156, a decrease of 22%.

The Long & Foster Market Minute Brigantine and Atlantic City are defined as properties listed in zip code/s 08203 and 08401.
*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 SJSMLS 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 SJSMLS or Long & Foster Real Estate, Inc.