The Long & Foster Market Minute

Focus On: Wildwood Housing Market October 2022

Zip Code(s): 08260
Units Sold
56
Active Inventory
263
Median Sale Price
$480,000
Days On Market
129
Down
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 56 sold this month in Wildwood Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 3%. The total number of active inventory this October was 263 compared to 255 in October 2021. This month's total of 263 is lower than the previous month's total supply of available inventory of 277, a decrease of 5%.

Median Sale Price
Last October, the median sale price for Wildwood Homes was $430,000. This October, the median sale price was $480,000, an increase of 12% or $50,000 compared to last year. The current median sold price is 12% lower than in September.

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


New Listings
59
Current Contracts
50
Sold Vs. List Price
95.5%
Months of Supply
4.7
Down -30%
Vs. Year Ago
Down -55%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 88%
Vs. Year Ago

Months of Supply
In October, there was 4.7 months of supply available in Wildwood, compared to 2.5 in October 2021. That is an increase of 88% 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 59 homes newly listed for sale in Wildwood compared to 84 in October 2021, a decrease of 30%. There were 50 current contracts pending sale this October compared to 110 a year ago. The number of current contracts is 55% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Wildwood was 95.5% of the average list price, which is 4.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 129, higher than the average last year, which was 70.

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.