The Long & Foster Market Minute

Focus On: Egg Harbor Township Housing Market February 2019

Zip Code(s): 08234
Units Sold
35
Active Inventory
296
Median Sale Price
$185,000
Days On Market
72
Down -29%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 35 sold this month in Egg Harbor Township Real Estate versus 43 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 29% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 40 units or 16%. The total number of active inventory this February was 296 compared to 256 in February 2018. This month's total of 296 is higher than the previous month's total supply of available inventory of 286, an increase of 3%.

Median Sale Price
Last February, the median sale price for Egg Harbor Township Homes was $175,000. This February, the median sale price was $185,000, an increase of 6% or $10,000 compared to last year. The current median sold price is 3% higher 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
89
Current Contracts
52
Sold Vs. List Price
96.8%
Months of Supply
8.5
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Up 62%
Vs. Year Ago

Months of Supply
In February, there was 8.5 months of supply available in Egg Harbor Township, compared to 5.2 in February 2018. That is an increase of 62% 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 89 homes newly listed for sale in Egg Harbor Township compared to 96 in February 2018, a decrease of 7%. There were 52 current contracts pending sale this February, approximately the same as a year ago. The number of current contracts is also similar as compared to the previous month.

Sale Price to List Price Ratio
In February, the average sale price in Egg Harbor Township was 96.8% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 72, lower than the average last year, which was 79, a decrease of 9%.

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.