The Long & Foster Market Minute

Focus On: Delran, Riverside, and Beverly Housing Market May 2020

Zip Code(s): 08075 and 08010
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up 16%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 35 sold this month in Delran, Riverside, and Beverly 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 64 units or 38%. The total number of active inventory this May was 104 compared to 168 in May 2019. This month's total of 104 is lower than the previous month's total supply of available inventory of 123, a decrease of 15%.

Median Sale Price
Last May, the median sale price for Delran, Riverside, and Beverly Homes was $188,450. This May, the median sale price was $228,000, an increase of 21% or $39,550 compared to last year. The current median sold price is 13% higher 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -9%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Up 22%
Vs. Year Ago

Months of Supply
In May, there was 3.0 months of supply available in Delran, Riverside, and Beverly, compared to 2.4 in May 2019. That is an increase of 22% 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 50 homes newly listed for sale in Delran, Riverside, and Beverly compared to 55 in May 2019, a decrease of 9%. There were 62 current contracts pending sale this May compared to 50 a year ago. The number of current contracts is 24% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Delran, Riverside, and Beverly was 98.3% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 66, higher than the average last year, which was 57, an increase of 16%.

The Long & Foster Market Minute Delran, Riverside, and Beverly are defined as properties listed in zip code/s 08075 and 08010.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.