The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market October 2020

Zip Code(s): 08243
Units Sold
37
Active Inventory
65
Median Sale Price
$999,999
Days On Market
75
Up
Vs. Year Ago
Down -44%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -44%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in October, with 37 sold this month in Sea Isle City Real Estate. This month's total units sold was higher than at this time last year, an increase from October 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 52 units or 44%. The total number of active inventory this October was 65 compared to 117 in October 2019. This month's total of 65 is higher than the previous month's total supply of available inventory of 56, an increase of 16%.

Median Sale Price
Last October, the median sale price for Sea Isle City Homes was $925,000. This October, the median sale price was $999,999, an increase of 8% or $74,999 compared to last year. The current median sold price is 24% higher than in September.

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


New Listings
34
Current Contracts
22
Sold Vs. List Price
99.4%
Months of Supply
1.8
Down -31%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Down -62%
Vs. Year Ago

Months of Supply
In October, there was 1.8 months of supply available in Sea Isle City, compared to 4.7 in October 2019. That is a decrease of 62% 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 34 homes newly listed for sale in Sea Isle City compared to 49 in October 2019, a decrease of 31%. There were 22 current contracts pending sale this October compared to 32 a year ago. The number of current contracts is 31% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Sea Isle City was 99.4% of the average list price, which is 2.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 75, lower than the average last year, which was 133, a decrease of 44%.

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.