The Long & Foster Market Minute

Focus On: Eatontown, Oceanport, and West Long Branch Housing Market March 2021

Zip Code(s): 07724, 07757, 07764, 07702 and 07703
Units Sold
53
Active Inventory
77
Median Sale Price
$469,900
Days On Market
44
Up
Vs. Year Ago
Down -50%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 53 sold this month in Eatontown, Oceanport, and West Long Branch Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 77 units or 50%. The total number of active inventory this March was 77 compared to 154 in March 2020. This month's total of 77 is lower than the previous month's total supply of available inventory of 79, a decrease of 3%.

Median Sale Price
Last March, the median sale price for Eatontown, Oceanport, and West Long Branch Homes was $480,000. This March, the median sale price was $469,900, a decrease of 2% or $10,100 compared to last year. The current median sold price is 10% 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
60
Current Contracts
56
Sold Vs. List Price
99.3%
Months of Supply
1.5
Up 2%
Vs. Year Ago
Up 47%
Vs. Year Ago
Up 2.9%
Vs. Year Ago
Down -68%
Vs. Year Ago

Months of Supply
In March, there was 1.5 months of supply available in Eatontown, Oceanport, and West Long Branch, compared to 4.5 in March 2020. That is a decrease of 68% 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 Eatontown, Oceanport, and West Long Branch compared to 59 in March 2020, an increase of 2%. There were 56 current contracts pending sale this March compared to 38 a year ago. The number of current contracts is 47% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Eatontown, Oceanport, and West Long Branch was 99.3% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 44, lower than the average last year, which was 60, a decrease of 27%.

The Long & Foster Market Minute Eatontown, Oceanport, and West Long Branch are defined as properties listed in zip code/s 07724, 07757, 07764, 07702 and 07703.
*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 MOMLS 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 MOMLS or Long & Foster Real Estate, Inc.