The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market April 2019

Zip Code(s): 08203 and 08401
Units Sold
69
Active Inventory
774
Median Sale Price
$186,000
Days On Market
86
Down -12%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 69 sold this month in Brigantine and Atlantic City Real Estate versus 77 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 12% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 122 units or 19%. The total number of active inventory this April was 774 compared to 652 in April 2018. This month's total of 774 is higher than the previous month's total supply of available inventory of 747, an increase of 4%.

Median Sale Price
Last April, the median sale price for Brigantine and Atlantic City Homes was $211,500. This April, the median sale price was $186,000, a decrease of 12% or $25,500 compared to last year. The current median sold price is 17% lower than in March.

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


New Listings
157
Current Contracts
90
Sold Vs. List Price
94.8%
Months of Supply
11.2
Down -2%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Up 34%
Vs. Year Ago

Months of Supply
In April, there was 11.2 months of supply available in Brigantine and Atlantic City, compared to 8.4 in April 2018. That is an increase of 34% 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 157 homes newly listed for sale in Brigantine and Atlantic City compared to 160 in April 2018, a decrease of 2%. There were 90 current contracts pending sale this April compared to 79 a year ago. The number of current contracts is 14% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Brigantine and Atlantic City was 94.8% 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 86, lower than the average last year, which was 99, a decrease of 13%.

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.