The Long & Foster Market Minute

Focus On: Wildwood Housing Market August 2023

Zip Code(s): 08260
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -4%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 52 sold this month in Wildwood Real Estate versus 58 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 4% versus August 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 50 units or 18%. The total number of active inventory this August was 221 compared to 271 in August 2022. This month's total of 221 is lower than the previous month's total supply of available inventory of 224, a decrease of 1%.

Median Sale Price
Last August, the median sale price for Wildwood Homes was $410,000. This August, the median sale price was $451,000, an increase of 10% or $41,000 compared to last year. The current median sold price is 5% higher than in July.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -9%
Vs. Year Ago
Down -1%
Vs. Year Ago
No Change
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In August, there was 4.3 months of supply available in Wildwood, compared to 5.0 in August 2022. That is a decrease of 15% 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 83 homes newly listed for sale in Wildwood compared to 91 in August 2022, a decrease of 9%. There were 76 current contracts pending sale this August compared to 77 a year ago. The number of current contracts is 1% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Wildwood was 97.7% 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 99, lower than the average last year, which was 110, a decrease of 10%.

The Long & Foster Market Minute Wildwood are defined as properties listed in zip code/s 08260.
*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.