The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market September 2019

Zip Code(s): 08202 and 08247
Units Sold
40
Active Inventory
219
Median Sale Price
$1,436,250
Days On Market
270
Down
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 40 sold this month in Avalon and Stone Harbor 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 16 units or 7%. The total number of active inventory this September was 219 compared to 235 in September 2018. This month's total of 219 is lower than the previous month's total supply of available inventory of 232, a decrease of 6%.

Median Sale Price
Last September, the median sale price for Avalon and Stone Harbor Homes was $1,450,000. This September, the median sale price was $1,436,250, a decrease of 1% or $13,750 compared to last year. The current median sold price is 1% lower 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
47
Current Contracts
40
Sold Vs. List Price
94.9%
Months of Supply
5.5
Down -19%
Vs. Year Ago
Down -25%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 56%
Vs. Year Ago

Months of Supply
In September, there was 5.5 months of supply available in Avalon and Stone Harbor, compared to 3.5 in September 2018. That is an increase of 56% 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 47 homes newly listed for sale in Avalon and Stone Harbor compared to 58 in September 2018, a decrease of 19%. There were 40 current contracts pending sale this September compared to 53 a year ago. The number of current contracts is 25% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Avalon and Stone Harbor was 94.9% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 270, higher than the average last year, which was 162.

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.