The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market December 2021

Zip Code(s): 08243
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Up 39%
Vs. Year Ago
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 18 sold this month in Sea Isle City Real Estate. This month's total units sold was lower than at this time last year, a decrease from December 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 39%. The total number of active inventory this December was 61 compared to 44 in December 2020. This month's total of 61 is lower than the previous month's total supply of available inventory of 66, a decrease of 8%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last December, the median sale price for Sea Isle City Homes was $910,000. This December, the median sale price was $1,437,500, an increase of $527,500 compared to last year. The current median sold price is 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -38%
Vs. Year Ago
Down -54%
Vs. Year Ago
Down -2.9%
Vs. Year Ago
Up 131%
Vs. Year Ago

Months of Supply
In December, there was 3.4 months of supply available in Sea Isle City, compared to 1.5 in December 2020. That is an increase of 131% 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 10 homes newly listed for sale in Sea Isle City compared to 16 in December 2020, a decrease of 38%. There were 11 current contracts pending sale this December compared to 24 a year ago. The number of current contracts is 54% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Sea Isle City was 95.1% of the average list price, which is 2.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 120, higher than the average last year, which was 100, an increase of 20%.

The Long & Foster Market Minute Sea Isle City are defined as properties listed in zip code/s 08243.
*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 CMCAOR 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 CMCAOR or Long & Foster Real Estate, Inc.