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| JULY 2024 | |||
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| Zip Code(s): 08202 and 08247 | |||
| Units Sold 13 |
Active Inventory 153 |
Median Sale Price $2,850,000 |
Days On Market 117 |
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| Up Vs. Year Ago |
Up 22% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
With relatively few transactions, there was an increase in total units sold in July, with 13 sold this month in Avalon and Stone Harbor Real Estate. This month's total units sold was higher than at this time last year, an increase from July 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 28 units or 22%. The total number of active inventory this July was 153 compared to 125 in July 2023. This month's total of 153 is higher than the previous month's total supply of available inventory of 149, an increase of 3%. |
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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 July, the median sale price for Avalon and Stone Harbor Homes was $1,900,000. This July, the median sale price was $2,850,000, an increase of $950,000 compared to last year. The current median sold price is lower than in June. 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 35 |
Current Contracts 18 |
Sold Vs. List Price 97.5% |
Months of Supply 11.8 |
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| Up 52% Vs. Year Ago |
Down -22% Vs. Year Ago |
No Change Vs. Year Ago |
Down -15% Vs. Year Ago |
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Months of Supply
In July, there was 11.8 months of supply available in Avalon and Stone Harbor, compared to 13.9 in July 2023. That is a decrease of 15% 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 35 homes newly listed for sale in Avalon and Stone Harbor compared to 23 in July 2023, an increase of 52%. There were 18 current contracts pending sale this July compared to 23 a year ago. The number of current contracts is 22% lower than last July. |
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Sale Price to List Price Ratio
In July, the average sale price in Avalon and Stone Harbor was 97.5% 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 117, higher than the average last year, which was 72. This increase was impacted by the limited number of sales. | |||
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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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