The Long & Foster Market Minute

Focus On: Wildwood Housing Market August 2018

Zip Code(s): 08260
Units Sold
64
Active Inventory
563
Median Sale Price
$284,000
Days On Market
161
Up 7%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 64 sold this month in Wildwood Real Estate versus 60 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 7% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 32 units or 5%. The total number of active inventory this August was 563 compared to 595 in August 2017. This month's total of 563 is lower than the previous month's total supply of available inventory of 566, a decrease of 1%.

Median Sale Price
Last August, the median sale price for Wildwood Homes was $348,250. This August, the median sale price was $284,000, a decrease of 18% or $64,250 compared to last year. The current median sold price is 6% higher than in July.

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


New Listings
122
Current Contracts
80
Sold Vs. List Price
96.6%
Months of Supply
8.8
Up 13%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In August, there was 8.8 months of supply available in Wildwood, compared to 9.9 in August 2017. That is a decrease of 11% 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 122 homes newly listed for sale in Wildwood compared to 108 in August 2017, an increase of 13%. There were 80 current contracts pending sale this August compared to 77 a year ago. The number of current contracts is 4% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Wildwood was 96.6% 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 161, lower than the average last year, which was 180, a decrease of 11%.

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.