The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market October 2018

Zip Code(s): 08203 and 08401
Units Sold
76
Active Inventory
613
Median Sale Price
$190,000
Days On Market
79
Up 4%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 76 sold this month in Brigantine and Atlantic City Real Estate versus 77 last month, a decrease of 1%. This month's total units sold was higher than at this time last year, an increase of 4% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 3%. The total number of active inventory this October was 613 compared to 631 in October 2017. This month's total of 613 is higher than the previous month's total supply of available inventory of 596, an increase of 3%.

Median Sale Price
Last October, the median sale price for Brigantine and Atlantic City Homes was $171,250. This October, the median sale price was $190,000, an increase of $18,750 compared to last year. The current median sold price is higher than in September.

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


New Listings
138
Current Contracts
74
Sold Vs. List Price
95.7%
Months of Supply
8.1
Up 21%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -7%
Vs. Year Ago

Months of Supply
In October, there was 8.1 months of supply available in Brigantine and Atlantic City, compared to 8.6 in October 2017. That is a decrease of 7% 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 138 homes newly listed for sale in Brigantine and Atlantic City compared to 114 in October 2017, an increase of 21%. There were 74 current contracts pending sale this October compared to 85 a year ago. The number of current contracts is 13% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Brigantine and Atlantic City was 95.7% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 79, lower than the average last year, which was 103, a decrease of 23%.

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.