The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market March 2019

Zip Code(s): 08243
Units Sold
29
Active Inventory
117
Median Sale Price
$826,000
Days On Market
118
Down
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 29 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 March 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 13 units or 13%. The total number of active inventory this March was 117 compared to 104 in March 2018. This month's total of 117 is lower than the previous month's total supply of available inventory of 119, a decrease of 2%.

Median Sale Price
Last March, the median sale price for Sea Isle City Homes was $722,000. This March, the median sale price was $826,000, an increase of 14% or $104,000 compared to last year. The current median sold price is 4% lower than in February.

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


New Listings
25
Current Contracts
20
Sold Vs. List Price
96.8%
Months of Supply
4.0
Down -14%
Vs. Year Ago
Down -44%
Vs. Year Ago
No Change
Vs. Year Ago
Up 32%
Vs. Year Ago

Months of Supply
In March, there was 4.0 months of supply available in Sea Isle City, compared to 3.1 in March 2018. That is an increase of 32% 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 25 homes newly listed for sale in Sea Isle City compared to 29 in March 2018, a decrease of 14%. There were 20 current contracts pending sale this March compared to 36 a year ago. The number of current contracts is 44% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Sea Isle City was 96.8% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 118, lower than the average last year, which was 176, a decrease of 33%.

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.