The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market July 2019

Zip Code(s): 08203 and 08401
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Up 31%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 48%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 50 sold this month in Brigantine and Atlantic City Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 189 units or 31%. The total number of active inventory this July was 805 compared to 616 in July 2018. This month's total of 805 is lower than the previous month's total supply of available inventory of 829, a decrease of 3%.

Median Sale Price
Last July, the median sale price for Brigantine and Atlantic City Homes was $178,000. This July, the median sale price was $159,000, a decrease of 11% or $19,000 compared to last year. The current median sold price is 21% lower 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 7%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -3.3%
Vs. Year Ago
Vs. Year Ago

Months of Supply
In July, there was 16.1 months of supply available in Brigantine and Atlantic City, compared to 6.8 in July 2018. That is an increase 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 146 homes newly listed for sale in Brigantine and Atlantic City compared to 137 in July 2018, an increase of 7%. There were 92 current contracts pending sale this July compared to 99 a year ago. The number of current contracts is 7% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Brigantine and Atlantic City was 91.2% of the average list price, which is 3.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 136, higher than the average last year, which was 92, an increase of 48%.

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.