The Long & Foster Market Minute

Focus On: Millville, Bridgeton, and Southern Cumberland County Housing Market September 2021

Zip Code(s): 08332, 08302, 08311, 08349, 08348, 08345, 08327, 08352, 08321, 08316, 08353 and 08324
Units Sold
4
Active Inventory
55
Median Sale Price
$135,000
Days On Market
20
Down
Vs. Year Ago
Up 12%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in September, with 4 sold this month in Millville, Bridgeton, and Southern Cumberland County Real Estate. This month's total units sold was lower than at this time last year, a decrease from September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 12%. The total number of active inventory this September was 55 compared to 49 in September 2020. This month's total of 55 is lower than the previous month's total supply of available inventory of 59, a decrease of 7%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Millville, Bridgeton, and Southern Cumberland County Homes was $131,000. This September, the median sale price was $135,000, an increase of $4,000 compared to last year. The current median sold price is 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
6
Current Contracts
8
Sold Vs. List Price
103.1%
Months of Supply
13.8
Up 100%
Vs. Year Ago
No Change
Vs. Year Ago
Up 4.4%
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In September, there was 13.8 months of supply available in Millville, Bridgeton, and Southern Cumberland County, compared to 3.1 in September 2020. That is an increase 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 6 homes newly listed for sale in Millville, Bridgeton, and Southern Cumberland County compared to 3 in September 2020, an increase of 100%. There were 8 current contracts pending sale this September, approximately the same as a year ago. The number of current contracts is also similar as compared to the previous month.

Sale Price to List Price Ratio
In September, the average sale price in Millville, Bridgeton, and Southern Cumberland County was 103.1% of the average list price, which is 4.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 119. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Millville, Bridgeton, and Southern Cumberland County are defined as properties listed in zip code/s 08332, 08302, 08311, 08349, 08348, 08345, 08327, 08352, 08321, 08316, 08353 and 08324.
*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.