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| Focus On: Avalon and Stone Harbor Housing Market | March 2019 | ||
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| Zip Code(s): 08202 and 08247 | |||
| Units Sold 27 |
Active Inventory 227 |
Median Sale Price $1,920,000 |
Days On Market 187 |
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| Up Vs. Year Ago |
Down -5% Vs. Year Ago |
Up Vs. Year Ago |
Up 4% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 27 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 March 2018. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 5%. The total number of active inventory this March was 227 compared to 238 in March 2018. This month's total of 227 is lower than the previous month's total supply of available inventory of 237, a decrease of 4%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Avalon and Stone Harbor Homes was $1,075,000. This March, the median sale price was $1,920,000, an increase of $845,000 compared to last year. The current median sold price is higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 33 |
Current Contracts 34 |
Sold Vs. List Price 93.8% |
Months of Supply 8.4 |
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| Down -27% Vs. Year Ago |
Down -3% Vs. Year Ago |
Down -0.9% Vs. Year Ago |
Down -8% Vs. Year Ago |
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Months of Supply
In March, there was 8.4 months of supply available in Avalon and Stone Harbor, compared to 9.2 in March 2018. That is a decrease of 8% 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. |
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New Listings & Current Contracts
This month there were 33 homes newly listed for sale in Avalon and Stone Harbor compared to 45 in March 2018, a decrease of 27%. There were 34 current contracts pending sale this March compared to 35 a year ago. The number of current contracts is 3% lower than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Avalon and Stone Harbor was 93.8% 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 187, higher than the average last year, which was 180, an increase of 4%. | |||
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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. | |||
 Information 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. |
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