The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market August 2017

Zip Code(s): 08243
Units Sold
16
Active Inventory
110
Median Sale Price
$785,000
Days On Market
162
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -6%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in August, with 16 sold this month in Sea Isle City Real Estate. This month's total units sold was higher than at this time last year, an increase from August 2016.

Click here to compare the units sold of this area against other locations.
Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 15%. The total number of active inventory this August was 110 compared to 130 in August 2016. This month's supply remained stable as compared to last month.

Click here to compare the active inventory of this area against other locations.
Median Sale Price
Last August, the median sale price for Sea Isle City Homes was $825,000. This August, the median sale price was $785,000, a decrease of 5% or $40,000 compared to last year. The current median sold price is 15% 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.

Click here to compare the median sale price of this area against other locations.

New Listings
26
Current Contracts
14
Sold Vs. List Price
97.3%
Months of Supply
6.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 8%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 4.4%
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In August, there was 6.9 months of supply available in Sea Isle City, compared to 11.8 in August 2016. That is a decrease of 42% 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.

Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts
This month there were 26 homes newly listed for sale in Sea Isle City compared to 24 in August 2016, an increase of 8%. There were 14 current contracts pending sale this August compared to 18 a year ago. The number of current contracts is 22% lower than last August.

Click here to compare the new listings of this area against other locations.

Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In August, the average sale price in Sea Isle City was 97.3% of the average list price, which is 4.1% higher than at this time last year.

Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market
This month, the average number of days on market was 162, lower than the average last year, which was 173, a decrease of 6%.

Click here to compare the days on market of this area against other locations.
The Long & Foster Market Minute *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.