The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market May 2020

Zip Code(s): 08243
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 10%
Vs. Year Ago
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 17 sold this month in Sea Isle City Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 31 units or 27%. The total number of active inventory this May was 84 compared to 115 in May 2019. This month's total of 84 is lower than the previous month's total supply of available inventory of 101, a decrease of 17%.

Median Sale Price
Last May, the median sale price for Sea Isle City Homes was $751,250. This May, the median sale price was $825,000, an increase of 10% or $73,750 compared to last year. The current median sold price is 20% higher 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -17%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -1.2%
Vs. Year Ago
Up 20%
Vs. Year Ago

Months of Supply
In May, there was 4.9 months of supply available in Sea Isle City, compared to 4.1 in May 2019. That is an increase of 20% 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 15 homes newly listed for sale in Sea Isle City compared to 18 in May 2019, a decrease of 17%. There were 20 current contracts pending sale this May compared to 18 a year ago. The number of current contracts is 11% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Sea Isle City was 95.7% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 209, higher than the average last year, which was 137. This increase was impacted by the limited number of sales.

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.