The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market August 2022

Zip Code(s): 08202 and 08247
Units Sold
25
Active Inventory
122
Median Sale Price
$2,152,500
Days On Market
122
Down
Vs. Year Ago
Up 40%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in August, with 25 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 from August 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 35 units or 40%. The total number of active inventory this August was 122 compared to 87 in August 2021. This month's total of 122 is higher than the previous month's total supply of available inventory of 112, an increase of 9%.

Median Sale Price
Last August, the median sale price for Avalon and Stone Harbor Homes was $2,220,000. This August, the median sale price was $2,152,500, a decrease of 3% or $67,500 compared to last year. The current median sold price is 19% lower 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
41
Current Contracts
27
Sold Vs. List Price
96.3%
Months of Supply
4.9
Up 8%
Vs. Year Ago
Down -23%
Vs. Year Ago
Down -1.8%
Vs. Year Ago
Up 52%
Vs. Year Ago

Months of Supply
In August, there was 4.9 months of supply available in Avalon and Stone Harbor, compared to 3.2 in August 2021. That is an increase of 51% 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 41 homes newly listed for sale in Avalon and Stone Harbor compared to 38 in August 2021, an increase of 8%. There were 27 current contracts pending sale this August compared to 35 a year ago. The number of current contracts is 23% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Avalon and Stone Harbor was 96.3% of the average list price, which is 1.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 122, lower than the average last year, which was 153, a decrease of 20%.

The Long & Foster Market Minute 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.
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.