The Long & Foster Market Minute

Focus On: Bethany, Fenwick, and Ocean View Housing Market September 2019

Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
70
Active Inventory
455
Median Sale Price
$467,500
Days On Market
126
Up 3%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 70 sold this month in Bethany, Fenwick, and Ocean View Real Estate versus 92 last month, a decrease of 24%. This month's total units sold was higher than at this time last year, an increase of 3% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 145 units or 24%. The total number of active inventory this September was 455 compared to 600 in September 2018. This month's total of 455 is lower than the previous month's total supply of available inventory of 475, a decrease of 4%.

Median Sale Price
Last September, the median sale price for Bethany, Fenwick, and Ocean View Homes was $367,989. This September, the median sale price was $467,500, an increase of $99,511 compared to last year. The current median sold price is higher than in August.

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


New Listings
100
Current Contracts
79
Sold Vs. List Price
95.9%
Months of Supply
6.5
Up 4%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In September, there was 6.5 months of supply available in Bethany, Fenwick, and Ocean View, compared to 8.8 in September 2018. That is a decrease of 26% 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 100 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 96 in September 2018, an increase of 4%. There were 79 current contracts pending sale this September compared to 72 a year ago. The number of current contracts is 10% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Bethany, Fenwick, and Ocean View was 95.9% of the average list price, which is 1.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 126, higher than the average last year, which was 105, an increase of 20%.

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.