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| AUGUST 2024 | |||
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| Zip Code(s): 08202 and 08247 | |||
| Units Sold 14 |
Active Inventory 162 |
Median Sale Price $4,117,500 |
Days On Market 162 |
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| Down -13% Vs. Year Ago |
Up 30% Vs. Year Ago |
Up Vs. Year Ago |
Up 10% Vs. Year Ago |
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Units Sold
The number of units sold remained stable in August, with 14 sold this month in Avalon and Stone Harbor Real Estate. This month's total units sold was lower than at this time last year, a decrease of 29% versus August 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 37 units or 30%. The total number of active inventory this August was 162 compared to 125 in August 2023. This month's total of 162 is higher than the previous month's total supply of available inventory of 152, an increase of 7%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last August, the median sale price for Avalon and Stone Harbor Homes was $2,222,500. This August, the median sale price was $4,117,500, an increase of $1,895,000 compared to last year. The current median sold price is 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. |
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| New Listings 40 |
Current Contracts 22 |
Sold Vs. List Price 95.1% |
Months of Supply 11.6 |
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| Up 29% Vs. Year Ago |
Down -19% Vs. Year Ago |
Down -0.6% Vs. Year Ago |
Up 48% Vs. Year Ago |
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Months of Supply
In August, there was 11.6 months of supply available in Avalon and Stone Harbor, compared to 7.8 in August 2023. That is an increase of 48% 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. |
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New Listings & Current Contracts
This month there were 40 homes newly listed for sale in Avalon and Stone Harbor compared to 31 in August 2023, an increase of 29%. There were 22 current contracts pending sale this August compared to 27 a year ago. The number of current contracts is 19% lower than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Avalon and Stone Harbor was 95.1% of the average list price, which is 0.6% lower than at this time last year. Days on Market
This month, the average number of days on market was 162, higher than the average last year, which was 147, an increase of 10%. | |||
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Avalon and Stone Harbor are defined as properties listed in zip code/s 08202 and 08247. | ||
| *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. | |||
 Information 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. |
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