The Long & Foster Market Minute

Focus On: Freehold Borough and Freehold Township Housing Market March 2021

Zip Code(s): 07728
Units Sold
54
Active Inventory
63
Median Sale Price
$380,000
Days On Market
24
Down -7%
Vs. Year Ago
Down -67%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -63%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 54 sold this month in Freehold Borough and Freehold Township 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 lower by 127 units or 67%. The total number of active inventory this March was 63 compared to 190 in March 2020. This month's total of 63 is lower than the previous month's total supply of available inventory of 88, a decrease of 28%.

Median Sale Price
Last March, the median sale price for Freehold Borough and Freehold Township Homes was $352,250. This March, the median sale price was $380,000, an increase of 8% or $27,750 compared to last year. The current median sold price is 3% 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
72
Current Contracts
80
Sold Vs. List Price
101.6%
Months of Supply
1.2
Up 20%
Vs. Year Ago
Up 70%
Vs. Year Ago
Up 4.4%
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In March, there was 1.2 months of supply available in Freehold Borough and Freehold Township, compared to 3.3 in March 2020. That is a decrease of 64% 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 72 homes newly listed for sale in Freehold Borough and Freehold Township compared to 60 in March 2020, an increase of 20%. There were 80 current contracts pending sale this March compared to 47 a year ago. The number of current contracts is 70% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Freehold Borough and Freehold Township was 101.6% of the average list price, which is 4.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 65, a decrease of 63%.

The Long & Foster Market Minute Freehold Borough and Freehold Township are defined as properties listed in zip code/s 07728.
*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.