The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market June 2021

Zip Code(s): 08202 and 08247
Units Sold
13
Active Inventory
83
Median Sale Price
$2,875,000
Days On Market
153
Down
Vs. Year Ago
Down -54%
Vs. Year Ago
Up
Vs. Year Ago
Up 15%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 13 sold this month in Avalon and Stone Harbor Real Estate. This month's total units sold was lower than at this time last year, a decrease from June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 96 units or 54%. The total number of active inventory this June was 83 compared to 179 in June 2020. This month's total of 83 is lower than the previous month's total supply of available inventory of 95, a decrease of 13%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Avalon and Stone Harbor Homes was $1,412,500. This June, the median sale price was $2,875,000, an increase of $1,462,500 compared to last year. The current median sold price is higher than in May.

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


New Listings
32
Current Contracts
35
Sold Vs. List Price
96.6%
Months of Supply
6.4
Down -50%
Vs. Year Ago
Down -53%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -7%
Vs. Year Ago

Months of Supply
In June, there was 6.4 months of supply available in Avalon and Stone Harbor, compared to 6.9 in June 2020. That is a decrease of 7% 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 32 homes newly listed for sale in Avalon and Stone Harbor compared to 64 in June 2020, a decrease of 50%. There were 35 current contracts pending sale this June compared to 74 a year ago. The number of current contracts is 53% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Avalon and Stone Harbor was 96.6% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 153, higher than the average last year, which was 133, an increase of 15%.

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.