SEA ISLE CITY HOUSING MARKET DATA

There was a decrease in total units sold in July, with 8 sold this month in Sea Isle City Real Estate versus 11 last month, a decrease of 27%. This month's total units sold was lower than at this time last year, a decrease of 11% versus July 2023.

Versus last year, the total number of homes available this month is lower by 8 units or 14%. The total number of active inventory this July was 51 compared to 59 in July 2023. This month's total of 51 is lower than the previous month's total supply of available inventory of 53, a decrease of 4%.

Last July, the median sale price for Sea Isle City Homes was $1,950,000. This July, the median sale price was $1,944,500, which is similar compared to a year ago. The current median sold price is 8% lower 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.

In July, there was 6.4 months of supply available in Sea Isle City, compared to 6.6 in July 2023. That is a decrease of 3% 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.

This month there were 14 homes newly listed for sale in Sea Isle City, which is similar to the amount in July 2023. There were 9 current contracts pending sale this July compared to 6 a year ago. The number of current contracts is 50% higher than last July.

In July, the average sale price in Sea Isle City was 97.5% of the average list price, which is 1.3% higher than at this time last year.

This month, the average number of days on market was 279, higher than the average last year, which was 164. This increase was impacted by the limited number of sales.





FOCUS ON: SEA ISLE CITY HOUSING MARKET			JULY 2024

Zip Code(s): 08243
Units Sold 8	Active Inventory 51	Median Sale Price $1,944,500	Days On Market 279

Down -11% Vs. Year Ago	Down -14% Vs. Year Ago	No Change Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 8 sold this month in Sea Isle City Real Estate versus 11 last month, a decrease of 27%. This month's total units sold was lower than at this time last year, a decrease of 11% versus July 2023.
Active Inventory Versus last year, the total number of homes available this month is lower by 8 units or 14%. The total number of active inventory this July was 51 compared to 59 in July 2023. This month's total of 51 is lower than the previous month's total supply of available inventory of 53, a decrease of 4%.
		Median Sale Price Last July, the median sale price for Sea Isle City Homes was $1,950,000. This July, the median sale price was $1,944,500, which is similar compared to a year ago. The current median sold price is 8% lower 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 14	Current Contracts 9	Sold Vs. List Price 97.5%	Months of Supply 6.4

No Change Vs. Year Ago	Up 50% Vs. Year Ago	Up 1.3% Vs. Year Ago	Down -3% Vs. Year Ago


		Months of Supply In July, there was 6.4 months of supply available in Sea Isle City, compared to 6.6 in July 2023. That is a decrease of 3% 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 14 homes newly listed for sale in Sea Isle City, which is similar to the amount in July 2023. There were 9 current contracts pending sale this July compared to 6 a year ago. The number of current contracts is 50% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Sea Isle City was 97.5% of the average list price, which is 1.3% higher than at this time last year. Days on Market This month, the average number of days on market was 279, higher than the average last year, which was 164. This increase was impacted by the limited number of sales.


	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.
	Information 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.