The Long & Foster Market Minute

Focus On: Egg Harbor Township Housing Market July 2019

Zip Code(s): 08234
Units Sold
67
Active Inventory
303
Median Sale Price
$235,000
Days On Market
66
Down -18%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 18%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 67 sold this month in Egg Harbor Township Real Estate versus 78 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 18% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 4%. The total number of active inventory this July was 303 compared to 314 in July 2018. This month's total of 303 is higher than the previous month's total supply of available inventory of 295, an increase of 3%.

Median Sale Price
Last July, the median sale price for Egg Harbor Township Homes was $191,000. This July, the median sale price was $235,000, an increase of 23% or $44,000 compared to last year. The current median sold price is 4% higher 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
109
Current Contracts
67
Sold Vs. List Price
97.7%
Months of Supply
4.5
Up 11%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago
Up 18%
Vs. Year Ago

Months of Supply
In July, there was 4.5 months of supply available in Egg Harbor Township, compared to 3.8 in July 2018. That is an increase of 18% 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 109 homes newly listed for sale in Egg Harbor Township compared to 98 in July 2018, an increase of 11%. There were 67 current contracts pending sale this July compared to 61 a year ago. The number of current contracts is 10% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Egg Harbor Township was 97.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 66, higher than the average last year, which was 56, an increase of 18%.

The Long & Foster Market Minute Egg Harbor Township are defined as properties listed in zip code/s 08234.
*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.