The Long & Foster Market Minute

Focus On: Laurelton and Herbertsville Housing Market March 2021

Zip Code(s): 08724
Units Sold
57
Active Inventory
85
Median Sale Price
$285,000
Days On Market
29
Down -5%
Vs. Year Ago
Down -56%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 57 sold this month in Laurelton and Herbertsville Real Estate versus 55 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 5% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 108 units or 56%. The total number of active inventory this March was 85 compared to 193 in March 2020. This month's total of 85 is higher than the previous month's total supply of available inventory of 82, an increase of 4%.

Median Sale Price
Last March, the median sale price for Laurelton and Herbertsville Homes was $250,000. This March, the median sale price was $285,000, an increase of 14% or $35,000 compared to last year. The current median sold price is 5% 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
101
Current Contracts
89
Sold Vs. List Price
100.6%
Months of Supply
1.5
Up 16%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In March, there was 1.5 months of supply available in Laurelton and Herbertsville, compared to 3.2 in March 2020. That is a decrease of 54% 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 101 homes newly listed for sale in Laurelton and Herbertsville compared to 87 in March 2020, an increase of 16%. There were 89 current contracts pending sale this March compared to 70 a year ago. The number of current contracts is 27% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Laurelton and Herbertsville was 100.6% of the average list price, which is 3.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 39, a decrease of 26%.

The Long & Foster Market Minute Laurelton and Herbertsville are defined as properties listed in zip code/s 08724.
*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.