The Long & Foster Market Minute

Focus On: Williamstown and Victory Lakes Housing Market September 2021

Zip Code(s): 08094
Units Sold
64
Active Inventory
82
Median Sale Price
$272,500
Days On Market
18
Up 2%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 26%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 64 sold this month in Williamstown and Victory Lakes Real Estate versus 78 last month, a decrease of 18%. This month's total units sold was higher than at this time last year, an increase of 2% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 26 units or 24%. The total number of active inventory this September was 82 compared to 108 in September 2020. This month's total of 82 is lower than the previous month's total supply of available inventory of 100, a decrease of 18%.

Median Sale Price
Last September, the median sale price for Williamstown and Victory Lakes Homes was $215,500. This September, the median sale price was $272,500, an increase of $57,000 compared to last year. The current median sold price is higher than in August.

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


New Listings
60
Current Contracts
68
Sold Vs. List Price
102.7%
Months of Supply
1.3
Down -26%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In September, there was 1.3 months of supply available in Williamstown and Victory Lakes, compared to 1.7 in September 2020. That is a decrease of 25% 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 60 homes newly listed for sale in Williamstown and Victory Lakes compared to 81 in September 2020, a decrease of 26%. There were 68 current contracts pending sale this September compared to 72 a year ago. The number of current contracts is 6% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Williamstown and Victory Lakes was 102.7% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 36, a decrease of 50%.

The Long & Foster Market Minute Williamstown and Victory Lakes are defined as properties listed in zip code/s 08094.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.