The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market August 2021

Zip Code(s): 08202 and 08247
Units Sold
25
Active Inventory
80
Median Sale Price
$2,220,000
Days On Market
129
Down
Vs. Year Ago
Down -42%
Vs. Year Ago
Up
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in August, with 25 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 August 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 57 units or 42%. The total number of active inventory this August was 80 compared to 137 in August 2020. This month's total of 80 is lower than the previous month's total supply of available inventory of 87, a decrease of 8%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last August, the median sale price for Avalon and Stone Harbor Homes was $1,430,000. This August, the median sale price was $2,220,000, an increase of $790,000 compared to last year. The current median sold price is higher than in July.

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


New Listings
35
Current Contracts
36
Sold Vs. List Price
98.0%
Months of Supply
3.2
Down -36%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Up 33%
Vs. Year Ago

Months of Supply
In August, there was 3.2 months of supply available in Avalon and Stone Harbor, compared to 2.4 in August 2020. That is an increase of 33% 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 35 homes newly listed for sale in Avalon and Stone Harbor compared to 55 in August 2020, a decrease of 36%. There were 36 current contracts pending sale this August compared to 61 a year ago. The number of current contracts is 41% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Avalon and Stone Harbor was 98.0% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 129, lower than the average last year, which was 181, a decrease of 29%.

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.