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| MAY 2025 | |||
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| Zip Code(s): 08332, 08302, 08311, 08349, 08348, 08345, 08327, 08352, 08321, 08316, 08353 and 08324 | |||
| Units Sold 5 |
Active Inventory 69 |
Median Sale Price $250,000 |
Days On Market 111 |
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| No Change Vs. Year Ago |
Up 10% Vs. Year Ago |
Down Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
There was an increase in total units sold in May, with 5 sold this month in Millville, Bridgeton, and Southern Cumberland County Real Estate, an increase of 25%. This month's total units sold is similar compared to a year ago. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 10%. The total number of active inventory this May was 69 compared to 63 in May 2024. This month's total of 69 is higher than the previous month's total supply of available inventory of 61, an increase of 13%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Millville, Bridgeton, and Southern Cumberland County Homes was $336,000. This May, the median sale price was $250,000, a decrease of $86,000 compared to last year. The current median sold price is higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 11 |
Current Contracts 3 |
Sold Vs. List Price 98.9% |
Months of Supply 13.8 |
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| Up 57% Vs. Year Ago |
Down -25% Vs. Year Ago |
No Change Vs. Year Ago |
Up 10% Vs. Year Ago |
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Months of Supply
In May, there was 13.8 months of supply available in Millville, Bridgeton, and Southern Cumberland County, compared to 12.6 in May 2024. That is an increase of 10% 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. |
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New Listings & Current Contracts
This month there were 11 homes newly listed for sale in Millville, Bridgeton, and Southern Cumberland County compared to 7 in May 2024, an increase of 57%. There were 3 current contracts pending sale this May compared to 4 a year ago. The number of current contracts is 25% lower than last May. |
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Sale Price to List Price Ratio
In May, the average sale price in Millville, Bridgeton, and Southern Cumberland County was 98.9% 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 111, higher than the average last year, which was 21. This increase was impacted by the limited number of sales. | |||
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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. | |||
 Information 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. |
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