The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market April 2018

Zip Code(s): 08243
Units Sold
44
Active Inventory
93
Median Sale Price
$675,500
Days On Market
153
Up
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 44 sold this month in Sea Isle City Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 29%. The total number of active inventory this April was 93 compared to 131 in April 2017. This month's total of 93 is lower than the previous month's total supply of available inventory of 101, a decrease of 8%.

Median Sale Price
Last April, the median sale price for Sea Isle City Homes was $660,000. This April, the median sale price was $675,500, an increase of 2% or $15,500 compared to last year. The current median sold price is 6% 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
23
Current Contracts
22
Sold Vs. List Price
97.1%
Months of Supply
2.1
Down -8%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In April, there was 2.1 months of supply available in Sea Isle City, compared to 4.2 in April 2017. That is a decrease of 50% 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 23 homes newly listed for sale in Sea Isle City compared to 25 in April 2017, a decrease of 8%. There were 22 current contracts pending sale this April compared to 21 a year ago. The number of current contracts is 5% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Sea Isle City was 97.1% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 153, higher than the average last year, which was 143, an increase of 7%.

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.