The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market February 2020

Zip Code(s): 08243
Units Sold
13
Active Inventory
111
Median Sale Price
$940,000
Days On Market
158
Up 8%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up
Vs. Year Ago
Up 3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 13 sold this month in Sea Isle City Real Estate versus 18 last month, a decrease of 28%. This month's total units sold was higher than at this time last year, an increase of 8% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 8%. The total number of active inventory this February was 111 compared to 120 in February 2019. This month's total of 111 is lower than the previous month's total supply of available inventory of 119, a decrease of 7%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Sea Isle City Homes was $856,500. This February, the median sale price was $940,000, an increase of $83,500 compared to last year. The current median sold price is higher than in January.

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


New Listings
32
Current Contracts
32
Sold Vs. List Price
95.5%
Months of Supply
8.5
Down -22%
Vs. Year Ago
No Change
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In February, there was 8.5 months of supply available in Sea Isle City, compared to 10.0 in February 2019. That is a decrease of 15% 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 32 homes newly listed for sale in Sea Isle City compared to 41 in February 2019, a decrease of 22%. There were 32 current contracts pending sale this February, consistent with the volume a year ago. The number of current contracts is 45% higher than last month.

Sale Price to List Price Ratio
In February, the average sale price in Sea Isle City was 95.5% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 158, higher than the average last year, which was 153, an increase of 3%.

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.