The Long & Foster Market Minute

Focus On: Beach Haven, Surf City, Seaside Park and Matoloking Housing Market May 2020

Zip Code(s): 08008, 08006, 08752, 08751, 08735, 08739 and 08738
Units Sold
50
Active Inventory
471
Median Sale Price
$727,500
Days On Market
91
Down
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -1%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 50 sold this month in Beach Haven, Surf City, Seaside Park and Matoloking 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 330 units or 41%. The total number of active inventory this May was 471 compared to 801 in May 2019. This month's total of 471 is lower than the previous month's total supply of available inventory of 514, a decrease of 8%.

Median Sale Price
Last May, the median sale price for Beach Haven, Surf City, Seaside Park and Matoloking Homes was $669,850. This May, the median sale price was $727,500, an increase of 9% or $57,650 compared to last year. The current median sold price is 21% higher than in April.

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


New Listings
113
Current Contracts
95
Sold Vs. List Price
94.0%
Months of Supply
9.4
Down -29%
Vs. Year Ago
Up 27%
Vs. Year Ago
No Change
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In May, there was 9.4 months of supply available in Beach Haven, Surf City, Seaside Park and Matoloking, compared to 7.6 in May 2019. That is an increase of 25% 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 113 homes newly listed for sale in Beach Haven, Surf City, Seaside Park and Matoloking compared to 159 in May 2019, a decrease of 29%. There were 95 current contracts pending sale this May compared to 75 a year ago. The number of current contracts is 27% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Beach Haven, Surf City, Seaside Park and Matoloking was 94.0% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 91, lower than the average last year, which was 92, a decrease of 1%.

The Long & Foster Market Minute Beach Haven, Surf City, Seaside Park and Matoloking are defined as properties listed in zip code/s 08008, 08006, 08752, 08751, 08735, 08739 and 08738.
*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.