The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market March 2021

Zip Code(s): 08243
Units Sold
41
Active Inventory
31
Median Sale Price
$999,000
Days On Market
123
Up
Vs. Year Ago
Down -71%
Vs. Year Ago
Up
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 41 sold this month in Sea Isle City Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 75 units or 71%. The total number of active inventory this March was 31 compared to 106 in March 2020. This month's total of 31 is lower than the previous month's total supply of available inventory of 32, a decrease of 3%.

Median Sale Price
Last March, the median sale price for Sea Isle City Homes was $708,000. This March, the median sale price was $999,000, an increase of $291,000 compared to last year. The current median sold price is lower than in February.

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


New Listings
37
Current Contracts
32
Sold Vs. List Price
97.8%
Months of Supply
0.8
Up 118%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Down -81%
Vs. Year Ago

Months of Supply
In March, there was 0.8 months of supply available in Sea Isle City, compared to 3.9 in March 2020. That is a decrease of 81% 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 37 homes newly listed for sale in Sea Isle City compared to 17 in March 2020, an increase of 118%. There were 32 current contracts pending sale this March compared to 25 a year ago. The number of current contracts is 28% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Sea Isle City was 97.8% 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 123, lower than the average last year, which was 148, a decrease of 17%.

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.