The Long & Foster Market Minute

Focus On: Egg Harbor Township Housing Market February 2020

Zip Code(s): 08234
Units Sold
40
Active Inventory
238
Median Sale Price
$206,650
Days On Market
71
Down -2%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 11%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 40 sold this month in Egg Harbor Township Real Estate versus 43 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 2% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 61 units or 20%. The total number of active inventory this February was 238 compared to 299 in February 2019. This month's total of 238 is lower than the previous month's total supply of available inventory of 255, a decrease of 7%.

Median Sale Price
Last February, the median sale price for Egg Harbor Township Homes was $184,000. This February, the median sale price was $206,650, an increase of 12% or $22,650 compared to last year. The current median sold price is 8% lower than in January.

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


New Listings
75
Current Contracts
58
Sold Vs. List Price
98.1%
Months of Supply
6.0
Down -19%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In February, there was 6.0 months of supply available in Egg Harbor Township, compared to 7.3 in February 2019. That is a decrease 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 75 homes newly listed for sale in Egg Harbor Township compared to 93 in February 2019, a decrease of 19%. There were 58 current contracts pending sale this February compared to 57 a year ago. The number of current contracts is 2% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Egg Harbor Township was 98.1% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 71, higher than the average last year, which was 64, an increase of 11%.

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.