The Long & Foster Market Minute

Focus On: Bayville, Berkeley and Lanoka Harbor Housing Market June 2021

Zip Code(s): 08734 and 08721
Units Sold
49
Active Inventory
86
Median Sale Price
$360,000
Days On Market
22
No Change
Vs. Year Ago
Down -32%
Vs. Year Ago
Up
Vs. Year Ago
Down -58%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 49 sold this month in Bayville, Berkeley and Lanoka Harbor Real Estate, an increase of 2%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 32%. The total number of active inventory this June was 86 compared to 126 in June 2020. This month's total of 86 is higher than the previous month's total supply of available inventory of 71, an increase of 21%.

Median Sale Price
Last June, the median sale price for Bayville, Berkeley and Lanoka Harbor Homes was $265,000. This June, the median sale price was $360,000, an increase of $95,000 compared to last year. The current median sold price is lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
79
Current Contracts
53
Sold Vs. List Price
101.6%
Months of Supply
1.8
No Change
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 3.7%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In June, there was 1.8 months of supply available in Bayville, Berkeley and Lanoka Harbor, compared to 2.6 in June 2020. That is a decrease of 32% 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 79 homes newly listed for sale in Bayville, Berkeley and Lanoka Harbor, which is similar to the amount in June 2020. There were 53 current contracts pending sale this June compared to 73 a year ago. The number of current contracts is 27% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bayville, Berkeley and Lanoka Harbor was 101.6% of the average list price, which is 3.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 52, a decrease of 58%.

The Long & Foster Market Minute Bayville, Berkeley and Lanoka Harbor are defined as properties listed in zip code/s 08734 and 08721.
*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.