The Long & Foster Market Minute

Focus On: Barnegat, Waretown and Lacey Housing Market March 2021

Zip Code(s): 08731, 08758 and 08005
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -3%
Vs. Year Ago
Down -62%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -55%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 83 sold this month in Barnegat, Waretown and Lacey Real Estate versus 86 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 3% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 208 units or 62%. The total number of active inventory this March was 128 compared to 336 in March 2020. This month's total of 128 is lower than the previous month's total supply of available inventory of 162, a decrease of 21%.

Median Sale Price
Last March, the median sale price for Barnegat, Waretown and Lacey Homes was $279,000. This March, the median sale price was $300,000, an increase of 8% or $21,000 compared to last year. The current median sold price is 9% higher 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 6%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 4.2%
Vs. Year Ago
Down -61%
Vs. Year Ago

Months of Supply
In March, there was 1.5 months of supply available in Barnegat, Waretown and Lacey, compared to 3.9 in March 2020. That is a decrease of 61% 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 144 homes newly listed for sale in Barnegat, Waretown and Lacey compared to 136 in March 2020, an increase of 6%. There were 138 current contracts pending sale this March compared to 118 a year ago. The number of current contracts is 17% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Barnegat, Waretown and Lacey was 102.5% of the average list price, which is 4.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 66, a decrease of 55%.

The Long & Foster Market Minute Barnegat, Waretown and Lacey are defined as properties listed in zip code/s 08731, 08758 and 08005.
*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.