The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market January 2024

Zip Code(s): 08243
Units Sold
14
Active Inventory
71
Median Sale Price
$1,750,000
Days On Market
129
Down -7%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was an increase in total units sold in January, with 14 sold this month in Sea Isle City Real Estate versus 13 last month, an increase of 8%. This month's total units sold was lower than at this time last year, a decrease of 7% versus January 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 2 units or 3%. The total number of active inventory this January was 71 compared to 69 in January 2023. This month's total of 71 is higher than the previous month's total supply of available inventory of 65, an increase of 9%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last January, the median sale price for Sea Isle City Homes was $857,500. This January, the median sale price was $1,750,000, an increase of $892,500 compared to last year. The current median sold price is higher than in December.

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


New Listings
20
Current Contracts
8
Sold Vs. List Price
93.3%
Months of Supply
5.1
Down -5%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -3.7%
Vs. Year Ago
Up 10%
Vs. Year Ago

Months of Supply
In January, there was 5.1 months of supply available in Sea Isle City, compared to 4.6 in January 2023. 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.

New Listings & Current Contracts
This month there were 20 homes newly listed for sale in Sea Isle City compared to 21 in January 2023, a decrease of 5%. There were 8 current contracts pending sale this January compared to 9 a year ago. The number of current contracts is 11% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Sea Isle City was 93.3% of the average list price, which is 3.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 129, lower than the average last year, which was 141, a decrease of 9%.

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.