The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market September 2019

Zip Code(s): 08243
Units Sold
20
Active Inventory
108
Median Sale Price
$667,500
Days On Market
166
Down -5%
Vs. Year Ago
Up 27%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 20 sold this month in Sea Isle City Real Estate versus 18 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 5% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 23 units or 27%. The total number of active inventory this September was 108 compared to 85 in September 2018. This month's total of 108 is higher than the previous month's total supply of available inventory of 99, an increase of 9%.

Median Sale Price
Last September, the median sale price for Sea Isle City Homes was $705,000. This September, the median sale price was $667,500, a decrease of 5% or $37,500 compared to last year. The current median sold price is 10% 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
39
Current Contracts
24
Sold Vs. List Price
97.8%
Months of Supply
5.4
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Up 33%
Vs. Year Ago

Months of Supply
In September, there was 5.4 months of supply available in Sea Isle City, compared to 4.0 in September 2018. That is an increase of 33% 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 39 homes newly listed for sale in Sea Isle City compared to 42 in September 2018, a decrease of 7%. There were 24 current contracts pending sale this September, consistent with the volume a year ago. The number of current contracts is 27% lower than last month.

Sale Price to List Price Ratio
In September, the average sale price in Sea Isle City was 97.8% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 166, higher than the average last year, which was 150, an increase of 11%.

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.