The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market January 2019

Zip Code(s): 08243
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -25%
Vs. Year Ago
Down -7%
Vs. Year Ago
Vs. Year Ago
Up 28%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 9 sold this month in Sea Isle City Real Estate versus 12 last month, a decrease of 25%. This month's total units sold was lower than at this time last year, a decrease of 25% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 7%. The total number of active inventory this January was 114 compared to 122 in January 2018. This month's total of 114 is lower than the previous month's total supply of available inventory of 116, a decrease of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last January, the median sale price for Sea Isle City Homes was $732,500. This January, the median sale price was $915,000, an increase of $182,500 compared to last year. The current median sold price is higher than in December.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -18%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In January, there was 12.7 months of supply available in Sea Isle City, compared to 10.2 in January 2018. That is an increase of 25% 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 31 homes newly listed for sale in Sea Isle City compared to 38 in January 2018, a decrease of 18%. There were 25 current contracts pending sale this January compared to 30 a year ago. The number of current contracts is 17% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Sea Isle City was 97.5% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 156, higher than the average last year, which was 122, an increase of 28%.

The Long & Foster Market Minute Sea Isle City are defined as properties listed in zip code/s 08243.
*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 CMCAOR 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 CMCAOR or Long & Foster Real Estate, Inc.