The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market September 2018

Zip Code(s): 08243
Units Sold
17
Active Inventory
85
Median Sale Price
$740,000
Days On Market
146
Up 13%
Vs. Year Ago
Down -35%
Vs. Year Ago
Up
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 17 sold this month in Sea Isle City Real Estate versus 18 last month, a decrease of 6%. This month's total units sold was higher than at this time last year, an increase of 13% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 35%. The total number of active inventory this September was 85 compared to 130 in September 2017. This month's total of 85 is higher than the previous month's total supply of available inventory of 73, an increase of 16%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Sea Isle City Homes was $649,000. This September, the median sale price was $740,000, an increase of $91,000 compared to last year. The current median sold price is higher than in August.

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


New Listings
39
Current Contracts
21
Sold Vs. List Price
96.5%
Months of Supply
5.0
Down -36%
Vs. Year Ago
Down -28%
Vs. Year Ago
No Change
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In September, there was 5.0 months of supply available in Sea Isle City, compared to 8.7 in September 2017. That is a decrease of 42% 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 39 homes newly listed for sale in Sea Isle City compared to 61 in September 2017, a decrease of 36%. There were 21 current contracts pending sale this September compared to 29 a year ago. The number of current contracts is 28% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Sea Isle City was 96.5% 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 146, lower than the average last year, which was 189, a decrease of 23%.

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.