The Long & Foster Market Minute

Focus On: Bethany, Fenwick, and Ocean View Housing Market May 2020

Zip Code(s): 19930, 19944, 19970 and 19967
Units Sold
52
Active Inventory
350
Median Sale Price
$387,250
Days On Market
100
Down
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 52 sold this month in Bethany, Fenwick, and Ocean View Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 160 units or 31%. The total number of active inventory this May was 350 compared to 510 in May 2019. This month's total of 350 is lower than the previous month's total supply of available inventory of 382, a decrease of 8%.

Median Sale Price
Last May, the median sale price for Bethany, Fenwick, and Ocean View Homes was $342,000. This May, the median sale price was $387,250, an increase of 13% or $45,250 compared to last year. The current median sold price is 3% higher 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
95
Current Contracts
95
Sold Vs. List Price
97.5%
Months of Supply
6.7
Down -9%
Vs. Year Ago
Up 30%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In May, there was 6.7 months of supply available in Bethany, Fenwick, and Ocean View, compared to 5.4 in May 2019. That is an increase of 25% 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 95 homes newly listed for sale in Bethany, Fenwick, and Ocean View compared to 104 in May 2019, a decrease of 9%. There were 95 current contracts pending sale this May compared to 73 a year ago. The number of current contracts is 30% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Bethany, Fenwick, and Ocean View was 97.5% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 100, lower than the average last year, which was 113, a decrease of 12%.

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.