The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market June 2018

Zip Code(s): 08243
Units Sold
21
Active Inventory
71
Median Sale Price
$740,000
Days On Market
140
Up 11%
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -1%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 21 sold this month in Sea Isle City Real Estate versus 32 last month, a decrease of 34%. This month's total units sold was higher than at this time last year, an increase of 11% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 43 units or 38%. The total number of active inventory this June was 71 compared to 114 in June 2017. This month's total of 71 is lower than the previous month's total supply of available inventory of 87, a decrease of 18%.

Median Sale Price
Last June, the median sale price for Sea Isle City Homes was $625,000. This June, the median sale price was $740,000, an increase of 18% or $115,000 compared to last year. The current median sold price is 4% higher than in May.

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


New Listings
15
Current Contracts
19
Sold Vs. List Price
97.5%
Months of Supply
3.4
Down -35%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 3.4 months of supply available in Sea Isle City, compared to 6.0 in June 2017. That is a decrease of 44% 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 15 homes newly listed for sale in Sea Isle City compared to 23 in June 2017, a decrease of 35%. There were 19 current contracts pending sale this June compared to 15 a year ago. The number of current contracts is 27% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Sea Isle City was 97.5% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 140, lower than the average last year, which was 141, a decrease of 1%.

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.