The Long & Foster Market Minute

Focus On: Barclay , Kingston, and Cherry Hill Housing Market March 2021

Zip Code(s): 08034 and 08002
Units Sold
54
Active Inventory
48
Median Sale Price
$288,750
Days On Market
24
Down -5%
Vs. Year Ago
Down -66%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -62%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 54 sold this month in Barclay , Kingston, and Cherry Hill Real Estate versus 43 last month, an increase of 26%. 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 93 units or 66%. The total number of active inventory this March was 48 compared to 141 in March 2020. This month's total of 48 is lower than the previous month's total supply of available inventory of 65, a decrease of 26%.

Median Sale Price
Last March, the median sale price for Barclay , Kingston, and Cherry Hill Homes was $273,000. This March, the median sale price was $288,750, an increase of 6% or $15,750 compared to last year. The current median sold price is 2% 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
64
Current Contracts
70
Sold Vs. List Price
102.5%
Months of Supply
0.9
Down -10%
Vs. Year Ago
Up 30%
Vs. Year Ago
Up 4.4%
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Barclay , Kingston, and Cherry Hill, compared to 2.5 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 64 homes newly listed for sale in Barclay , Kingston, and Cherry Hill compared to 71 in March 2020, a decrease of 10%. There were 70 current contracts pending sale this March compared to 54 a year ago. The number of current contracts is 30% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Barclay , Kingston, and Cherry Hill was 102.5% 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 63, a decrease of 62%.

The Long & Foster Market Minute Barclay , Kingston, and Cherry Hill are defined as properties listed in zip code/s 08034 and 08002.
*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.