The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market February 2019

Zip Code(s): 08203 and 08401
Units Sold
34
Active Inventory
701
Median Sale Price
$179,500
Days On Market
95
Down -17%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 34 sold this month in Brigantine and Atlantic City Real Estate versus 41 last month, a decrease of 17%. This month's total units sold was lower than at this time last year, a decrease of 17% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 72 units or 11%. The total number of active inventory this February was 701 compared to 629 in February 2018. This month's total of 701 is higher than the previous month's total supply of available inventory of 620, an increase of 13%.

Median Sale Price
Last February, the median sale price for Brigantine and Atlantic City Homes was $169,000. This February, the median sale price was $179,500, an increase of 6% or $10,500 compared to last year. The current median sold price is 16% lower than in January.

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


New Listings
177
Current Contracts
68
Sold Vs. List Price
93.9%
Months of Supply
20.6
Up 35%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Up 34%
Vs. Year Ago

Months of Supply
In February, there was 20.6 months of supply available in Brigantine and Atlantic City, compared to 15.3 in February 2018. That is an increase of 34% 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 177 homes newly listed for sale in Brigantine and Atlantic City compared to 131 in February 2018, an increase of 35%. There were 68 current contracts pending sale this February compared to 73 a year ago. The number of current contracts is 7% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Brigantine and Atlantic City was 93.9% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 95, lower than the average last year, which was 112, a decrease of 15%.

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.