The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market July 2019

Zip Code(s): 08243
Units Sold
17
Active Inventory
97
Median Sale Price
$885,000
Days On Market
161
No Change
Vs. Year Ago
Up 35%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 10%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 17 sold this month in Sea Isle City Real Estate, a decrease of 6%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is higher by 25 units or 35%. The total number of active inventory this July was 97 compared to 72 in July 2018. This month's total of 97 is lower than the previous month's total supply of available inventory of 104, a decrease of 7%.

Median Sale Price
Last July, the median sale price for Sea Isle City Homes was $755,000. This July, the median sale price was $885,000, an increase of 17% or $130,000 compared to last year. The current median sold price is 19% higher than in June.

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


New Listings
26
Current Contracts
23
Sold Vs. List Price
96.1%
Months of Supply
5.7
Down -10%
Vs. Year Ago
No Change
Vs. Year Ago
Down -1.9%
Vs. Year Ago
Up 35%
Vs. Year Ago

Months of Supply
In July, there was 5.7 months of supply available in Sea Isle City, compared to 4.2 in July 2018. That is an increase of 35% 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 26 homes newly listed for sale in Sea Isle City compared to 29 in July 2018, a decrease of 10%. There were 23 current contracts pending sale this July, consistent with the volume a year ago. The number of current contracts is 10% higher than last month.

Sale Price to List Price Ratio
In July, the average sale price in Sea Isle City was 96.1% of the average list price, which is 1.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 161, higher than the average last year, which was 146, an increase of 10%.

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.