The Long & Foster Market Minute
Focus On: Sea Isle City Housing Market January 2017
Zip Code(s): 08243
Units Sold
11
Active Inventory
150
Median Sale Price
$730,000
Days On Market
244
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up
Vs. Year Ago
Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 11 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 January 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 13 units or 8%. The total number of active inventory this January was 150 compared to 163 in January 2016. This month's total of 150 is higher than the previous month's total supply of available inventory of 143, an increase of 5%.

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Median Sale Price
Last January, the median sale price for Sea Isle City Homes was $720,000. This January, the median sale price was $730,000, an increase of 1% or $10,000 compared to last year. The current median sold price is 19% higher than in December.

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

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New Listings
50
Current Contracts
26
Sold Vs. List Price
94.5%
Months of Supply
13.6
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 43%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Up
Vs. Year Ago
Months of Supply
In January, there was 13.6 months of supply available in Sea Isle City, compared to 7.1 in January 2016. That is an increase 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.

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New Listings & Current Contracts
This month there were 50 homes newly listed for sale in Sea Isle City compared to 35 in January 2016, an increase of 43%. There were 26 current contracts pending sale this January compared to 21 a year ago. The number of current contracts is 24% higher than last January.

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Sale Price to List Price Ratio
In January, the average sale price in Sea Isle City was 94.5% of the average list price, which is 1.4% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 244, higher than the average last year, which was 156. This increase was impacted by the limited number of sales.

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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.