The Long & Foster Market Minute


Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -24%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 53 sold this month in Bethany, Fenwick, and Ocean View Real Estate versus 63 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 24% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 24 units or 13%. The total number of active inventory this May was 204 compared to 180 in May 2023. This month's total of 204 is higher than the previous month's total supply of available inventory of 195, an increase of 5%.

Median Sale Price
Last May, the median sale price for Bethany, Fenwick, and Ocean View Homes was $543,490. This May, the median sale price was $580,000, an increase of 7% or $36,510 compared to last year. The current median sold price is 4% lower than in April.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 8%
Vs. Year Ago
Up 26%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Up 50%
Vs. Year Ago

Months of Supply
In May, there was 3.8 months of supply available in Bethany, Fenwick, and Ocean View, compared to 2.6 in May 2023. That is an increase of 50% 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 91 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 84 in May 2023, an increase of 8%. There were 68 current contracts pending sale this May compared to 54 a year ago. The number of current contracts is 26% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Bethany, Fenwick, and Ocean View was 98.2% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 44, a decrease of 43%.

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.