The Long & Foster Market Minute

Focus On: Avalon and Stone Harbor Housing Market July 2019

Zip Code(s): 08202 and 08247
Units Sold
22
Active Inventory
233
Median Sale Price
$1,790,000
Days On Market
224
Down
Vs. Year Ago
Down -6%
Vs. Year Ago
Up
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in July, with 22 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 July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 6%. The total number of active inventory this July was 233 compared to 248 in July 2018. This month's total of 233 is higher than the previous month's total supply of available inventory of 219, an increase of 6%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last July, the median sale price for Avalon and Stone Harbor Homes was $990,000. This July, the median sale price was $1,790,000, an increase of $800,000 compared to last year. The current median sold price is higher than in June.

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


New Listings
53
Current Contracts
32
Sold Vs. List Price
94.5%
Months of Supply
10.6
Down -20%
Vs. Year Ago
Down -27%
Vs. Year Ago
No Change
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In July, there was 10.6 months of supply available in Avalon and Stone Harbor, compared to 9.2 in July 2018. That is an increase of 15% 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 53 homes newly listed for sale in Avalon and Stone Harbor compared to 66 in July 2018, a decrease of 20%. There were 32 current contracts pending sale this July compared to 44 a year ago. The number of current contracts is 27% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Avalon and Stone Harbor was 94.5% 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 224, higher than the average last year, which was 186, an increase of 20%.

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.