The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market February 2020

Zip Code(s): 08202 and 08247
Units Sold
16
Active Inventory
194
Median Sale Price
$1,165,000
Days On Market
141
Up
Vs. Year Ago
Down -20%
Vs. Year Ago
Down
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 16 sold this month in Avalon and Stone Harbor Real Estate. This month's total units sold was higher than at this time last year, an increase from February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 47 units or 20%. The total number of active inventory this February was 194 compared to 241 in February 2019. This month's total of 194 is higher than the previous month's total supply of available inventory of 185, an increase of 5%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Avalon and Stone Harbor Homes was $1,315,000. This February, the median sale price was $1,165,000, a decrease of $150,000 compared to last year. The current median sold price is lower than in January.

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


New Listings
48
Current Contracts
22
Sold Vs. List Price
93.6%
Months of Supply
12.1
Down -11%
Vs. Year Ago
Down -31%
Vs. Year Ago
No Change
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In February, there was 12.1 months of supply available in Avalon and Stone Harbor, compared to 24.1 in February 2019. That is a decrease 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 48 homes newly listed for sale in Avalon and Stone Harbor compared to 54 in February 2019, a decrease of 11%. There were 22 current contracts pending sale this February compared to 32 a year ago. The number of current contracts is 31% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Avalon and Stone Harbor was 93.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 141, lower than the average last year, which was 205, a decrease of 31%.

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.