The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market May 2020

Zip Code(s): 08203 and 08401
Units Sold
39
Active Inventory
788
Median Sale Price
$145,000
Days On Market
100
Down
Vs. Year Ago
Down -3%
Vs. Year Ago
Down
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 39 sold this month in Brigantine and Atlantic City Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 3%. The total number of active inventory this May was 788 compared to 813 in May 2019. This month's total of 788 is lower than the previous month's total supply of available inventory of 827, a decrease of 5%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Brigantine and Atlantic City Homes was $217,000. This May, the median sale price was $145,000, a decrease of $72,000 compared to last year. The current median sold price is lower than in April.

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


New Listings
98
Current Contracts
78
Sold Vs. List Price
90.6%
Months of Supply
20.2
Down -36%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -3.8%
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In May, there was 20.2 months of supply available in Brigantine and Atlantic City, compared to 8.6 in May 2019. 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 98 homes newly listed for sale in Brigantine and Atlantic City compared to 152 in May 2019, a decrease of 36%. There were 78 current contracts pending sale this May compared to 84 a year ago. The number of current contracts is 7% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Brigantine and Atlantic City was 90.6% of the average list price, which is 3.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 100, which is similar compared to a year ago.

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.