The Long & Foster Market Minute

Focus On: Ocean County Housing Market December 2021

Units Sold
1,115
Active Inventory
1,060
Median Sale Price
$380,000
Days On Market
30
Down -20%
Vs. Year Ago
Down -42%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 1,115 sold this month in Ocean County Real Estate versus 1,096 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 20% versus December 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 775 units or 42%. The total number of active inventory this December was 1,060 compared to 1,835 in December 2020. This month's total of 1,060 is lower than the previous month's total supply of available inventory of 1,482, a decrease of 28%.

Median Sale Price
Last December, the median sale price for Ocean County Homes was $320,000. This December, the median sale price was $380,000, an increase of 19% or $60,000 compared to last year. The current median sold price is 1% lower than in November.

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


New Listings
627
Current Contracts
823
Sold Vs. List Price
100.1%
Months of Supply
1.0
Down -19%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In December, there was 1.0 months of supply available in Ocean County, compared to 1.3 in December 2020. That is a decrease of 28% 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 627 homes newly listed for sale in Ocean County compared to 772 in December 2020, a decrease of 19%. There were 823 current contracts pending sale this December compared to 972 a year ago. The number of current contracts is 15% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Ocean County was 100.1% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 36, a decrease of 17%.

The Long & Foster Market Minute
*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 MOMLS 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 MOMLS or Long & Foster Real Estate, Inc.