The Long & Foster Market Minute

Focus On: Egg Harbor Township Housing Market March 2019

Zip Code(s): 08234
Units Sold
47
Active Inventory
293
Median Sale Price
$209,000
Days On Market
51
Down -6%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 26%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 47 sold this month in Egg Harbor Township Real Estate versus 38 last month, an increase of 24%. This month's total units sold was lower than at this time last year, a decrease of 6% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 18 units or 7%. The total number of active inventory this March was 293 compared to 275 in March 2018. This month's total of 293 is lower than the previous month's total supply of available inventory of 296, a decrease of 1%.

Median Sale Price
Last March, the median sale price for Egg Harbor Township Homes was $166,500. This March, the median sale price was $209,000, an increase of $42,500 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
105
Current Contracts
78
Sold Vs. List Price
96.5%
Months of Supply
6.2
Down -1%
Vs. Year Ago
Up 28%
Vs. Year Ago
No Change
Vs. Year Ago
Up 13%
Vs. Year Ago

Months of Supply
In March, there was 6.2 months of supply available in Egg Harbor Township, compared to 5.5 in March 2018. That is an increase of 13% 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 105 homes newly listed for sale in Egg Harbor Township compared to 106 in March 2018, a decrease of 1%. There were 78 current contracts pending sale this March compared to 61 a year ago. The number of current contracts is 28% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Egg Harbor Township was 96.5% 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 51, lower than the average last year, which was 75, a decrease of 32%.

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.