The Long & Foster Market Minute

Focus On: Egg Harbor Township Housing Market August 2018

Zip Code(s): 08234
Units Sold
62
Active Inventory
319
Median Sale Price
$212,933
Days On Market
71
Up 7%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 1%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 62 sold this month in Egg Harbor Township Real Estate versus 78 last month, a decrease of 21%. This month's total units sold was higher than at this time last year, an increase of 7% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 6%. The total number of active inventory this August was 319 compared to 302 in August 2017. This month's total of 319 is higher than the previous month's total supply of available inventory of 308, an increase of 4%.

Median Sale Price
Last August, the median sale price for Egg Harbor Township Homes was $181,387. This August, the median sale price was $212,933, an increase of 17% or $31,546 compared to last year. The current median sold price is 11% higher 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
92
Current Contracts
63
Sold Vs. List Price
97.7%
Months of Supply
5.1
Down -4%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 5.1 months of supply available in Egg Harbor Township. The amount of supply is similar compared to 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 92 homes newly listed for sale in Egg Harbor Township compared to 96 in August 2017, a decrease of 4%. There were 63 current contracts pending sale this August compared to 71 a year ago. The number of current contracts is 11% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Egg Harbor Township was 97.7% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 71, higher than the average last year, which was 70, an increase of 1%.

The Long & Foster Market Minute Egg Harbor Township are defined as properties listed in zip code/s 08234.
*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.