The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market May 2018

Zip Code(s): 08203 and 08401
Units Sold
85
Active Inventory
613
Median Sale Price
$170,000
Days On Market
85
Down -13%
Vs. Year Ago
Down -20%
Vs. Year Ago
No Change
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 85 sold this month in Brigantine and Atlantic City Real Estate versus 73 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 13% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 152 units or 20%. The total number of active inventory this May was 613 compared to 765 in May 2017. This month's total of 613 is lower than the previous month's total supply of available inventory of 637, a decrease of 4%.

Median Sale Price
Last May, the median sale price for Brigantine and Atlantic City Homes was $170,000. This May, the median sale price was $170,000, which is similar compared to a year ago. The current median sold price is 20% higher than in April.

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


New Listings
107
Current Contracts
91
Sold Vs. List Price
95.1%
Months of Supply
7.2
Down -11%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In May, there was 7.2 months of supply available in Brigantine and Atlantic City, compared to 7.8 in May 2017. That is a decrease of 8% 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 107 homes newly listed for sale in Brigantine and Atlantic City compared to 120 in May 2017, a decrease of 11%. There were 91 current contracts pending sale this May compared to 82 a year ago. The number of current contracts is 11% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Brigantine and Atlantic City was 95.1% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 85, lower than the average last year, which was 121, a decrease of 30%.

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.