The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market March 2019

Zip Code(s): 08203 and 08401
Units Sold
73
Active Inventory
735
Median Sale Price
$233,000
Days On Market
94
Up 7%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 73 sold this month in Brigantine and Atlantic City Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 115 units or 19%. The total number of active inventory this March was 735 compared to 620 in March 2018. This month's total of 735 is higher than the previous month's total supply of available inventory of 702, an increase of 5%.

Median Sale Price
Last March, the median sale price for Brigantine and Atlantic City Homes was $160,000. This March, the median sale price was $233,000, an increase of $73,000 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.


New Listings
156
Current Contracts
84
Sold Vs. List Price
95.0%
Months of Supply
10.1
Up 3%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Up 10%
Vs. Year Ago

Months of Supply
In March, there was 10.1 months of supply available in Brigantine and Atlantic City, compared to 9.1 in March 2018. That is an increase of 10% 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 156 homes newly listed for sale in Brigantine and Atlantic City compared to 151 in March 2018, an increase of 3%. There were 84 current contracts pending sale this March compared to 87 a year ago. The number of current contracts is 3% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Brigantine and Atlantic City was 95.0% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 94, lower than the average last year, which was 136, a decrease of 31%.

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.