The Long & Foster Market Minute

Focus On: Medford and Lumberton Housing Market September 2021

Zip Code(s): 08055 and 08048
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -11%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
The number of units sold remained stable in September, with 72 sold this month in Medford and Lumberton Real Estate. This month's total units sold was lower than at this time last year, a decrease of 15% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 33 units or 28%. The total number of active inventory this September was 87 compared to 120 in September 2020. This month's total of 87 is lower than the previous month's total supply of available inventory of 102, a decrease of 15%.

Median Sale Price
Last September, the median sale price for Medford and Lumberton Homes was $400,000. This September, the median sale price was $431,250, an increase of 8% or $31,250 compared to last year. The current median sold price is 6% lower than in August.

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 -15%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In September, there was 1.2 months of supply available in Medford and Lumberton, compared to 1.5 in September 2020. 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 69 homes newly listed for sale in Medford and Lumberton compared to 81 in September 2020, a decrease of 15%. There were 66 current contracts pending sale this September compared to 76 a year ago. The number of current contracts is 13% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Medford and Lumberton was 102.0% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 37, a decrease of 32%.

The Long & Foster Market Minute Medford and Lumberton are defined as properties listed in zip code/s 08055 and 08048.
*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.