The Long & Foster Market Minute

Focus On: Egg Harbor Township Housing Market May 2018

Zip Code(s): 08234
Units Sold
58
Active Inventory
275
Median Sale Price
$172,500
Days On Market
55
Down -12%
Vs. Year Ago
Down -20%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 58 sold this month in Egg Harbor Township Real Estate versus 53 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 12% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 70 units or 20%. The total number of active inventory this May was 275 compared to 345 in May 2017. This month's supply remained stable as compared to last month.

Median Sale Price
Last May, the median sale price for Egg Harbor Township Homes was $173,450. This May, the median sale price was $172,500, a decrease of 1% or $950 compared to last year. The current median sold price is 18% lower 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
114
Current Contracts
87
Sold Vs. List Price
98.7%
Months of Supply
4.7
Up 13%
Vs. Year Ago
Up 40%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -9%
Vs. Year Ago

Months of Supply
In May, there was 4.7 months of supply available in Egg Harbor Township, compared to 5.2 in May 2017. That is a decrease of 9% 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 114 homes newly listed for sale in Egg Harbor Township compared to 101 in May 2017, an increase of 13%. There were 87 current contracts pending sale this May compared to 62 a year ago. The number of current contracts is 40% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Egg Harbor Township was 98.7% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 55, lower than the average last year, which was 88, a decrease of 38%.

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.