The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market September 2019

Zip Code(s): 08203 and 08401
Units Sold
91
Active Inventory
835
Median Sale Price
$253,250
Days On Market
88
Up 15%
Vs. Year Ago
Up 37%
Vs. Year Ago
Up
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 91 sold this month in Brigantine and Atlantic City Real Estate versus 87 last month, an increase of 5%. This month's total units sold was higher than at this time last year, an increase of 15% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 227 units or 37%. The total number of active inventory this September was 835 compared to 608 in September 2018. This month's supply remained stable as compared to last month.

Median Sale Price
Last September, the median sale price for Brigantine and Atlantic City Homes was $140,000. This September, the median sale price was $253,250, an increase of $113,250 compared to last year. The current median sold price is higher than in August.

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


New Listings
142
Current Contracts
75
Sold Vs. List Price
95.0%
Months of Supply
9.2
Up 10%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Up 19%
Vs. Year Ago

Months of Supply
In September, there was 9.2 months of supply available in Brigantine and Atlantic City, compared to 7.7 in September 2018. That is an increase of 19% 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 142 homes newly listed for sale in Brigantine and Atlantic City compared to 129 in September 2018, an increase of 10%. There were 75 current contracts pending sale this September compared to 65 a year ago. The number of current contracts is 15% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Brigantine and Atlantic City was 95.0% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 88, lower than the average last year, which was 102, a decrease of 14%.

The Long & Foster Market Minute Brigantine and Atlantic City are defined as properties listed in zip code/s 08203 and 08401.
*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 SJSMLS 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 SJSMLS or Long & Foster Real Estate, Inc.