The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market April 2019

Zip Code(s): 08243
Units Sold
22
Active Inventory
117
Median Sale Price
$730,000
Days On Market
150
Down
Vs. Year Ago
Up 21%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -2%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in April, with 22 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 April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 20 units or 21%. The total number of active inventory this April was 117 compared to 97 in April 2018. This month's total of 117 is lower than the previous month's total supply of available inventory of 118, a decrease of 1%.

Median Sale Price
Last April, the median sale price for Sea Isle City Homes was $655,000. This April, the median sale price was $730,000, an increase of 11% or $75,000 compared to last year. The current median sold price is 8% lower than in March.

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


New Listings
28
Current Contracts
23
Sold Vs. List Price
97.2%
Months of Supply
5.3
Up 12%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Up 146%
Vs. Year Ago

Months of Supply
In April, there was 5.3 months of supply available in Sea Isle City, compared to 2.2 in April 2018. That is an increase of 147% 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 28 homes newly listed for sale in Sea Isle City compared to 25 in April 2018, an increase of 12%. There were 23 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 21% higher than last month.

Sale Price to List Price Ratio
In April, the average sale price in Sea Isle City was 97.2% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 150, lower than the average last year, which was 153, a decrease of 2%.

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.