The Long & Foster Market Minute

Focus On: Wildwood Housing Market May 2020

Zip Code(s): 08260
Units Sold
51
Active Inventory
371
Median Sale Price
$357,000
Days On Market
184
Down
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 51 sold this month in Wildwood Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 168 units or 31%. The total number of active inventory this May was 371 compared to 539 in May 2019. This month's total of 371 is lower than the previous month's total supply of available inventory of 411, a decrease of 10%.

Median Sale Price
Last May, the median sale price for Wildwood Homes was $287,500. This May, the median sale price was $357,000, an increase of 24% or $69,500 compared to last year. The current median sold price is 7% higher than in April.

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


New Listings
82
Current Contracts
87
Sold Vs. List Price
95.9%
Months of Supply
7.3
Down -21%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago
Up 80%
Vs. Year Ago

Months of Supply
In May, there was 7.3 months of supply available in Wildwood, compared to 4.1 in May 2019. That is an increase of 80% 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 82 homes newly listed for sale in Wildwood compared to 104 in May 2019, a decrease of 21%. There were 87 current contracts pending sale this May compared to 79 a year ago. The number of current contracts is 10% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Wildwood was 95.9% 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 184, higher than the average last year, which was 154, an increase of 19%.

The Long & Foster Market Minute Wildwood are defined as properties listed in zip code/s 08260.
*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.