The Long & Foster Market Minute

Focus On: Bethany, Fenwick, and Ocean View Housing Market December 2022

Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
51
Active Inventory
137
Median Sale Price
$546,000
Days On Market
60
Down -34%
Vs. Year Ago
Up 49%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 140%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 51 sold this month in Bethany, Fenwick, and Ocean View Real Estate versus 47 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 34% versus December 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 45 units or 49%. The total number of active inventory this December was 137 compared to 92 in December 2021. This month's total of 137 is lower than the previous month's total supply of available inventory of 166, a decrease of 17%.

Median Sale Price
Last December, the median sale price for Bethany, Fenwick, and Ocean View Homes was $559,000. This December, the median sale price was $546,000, a decrease of 2% or $13,000 compared to last year. The current median sold price is 1% lower than in November.

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


New Listings
32
Current Contracts
35
Sold Vs. List Price
96.7%
Months of Supply
2.7
Up 7%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -2.7%
Vs. Year Ago
Up 126%
Vs. Year Ago

Months of Supply
In December, there was 2.7 months of supply available in Bethany, Fenwick, and Ocean View, compared to 1.2 in December 2021. That is an increase of 125% 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 32 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 30 in December 2021, an increase of 7%. There were 35 current contracts pending sale this December compared to 41 a year ago. The number of current contracts is 15% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Bethany, Fenwick, and Ocean View was 96.7% of the average list price, which is 2.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 60, higher than the average last year, which was 25, an increase of 140%.

The Long & Foster Market Minute Bethany, Fenwick, and Ocean View are defined as properties listed in zip code/s 19930, 19944, 19970 and 19967.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.