The Long & Foster Market Minute

Focus On: Beachwood, Pine Beach, Ocean Gate and Bayville Housing Market March 2021

Zip Code(s): 08722, 08741, 08740 and 08721
Units Sold
59
Active Inventory
70
Median Sale Price
$330,000
Days On Market
23
Up 9%
Vs. Year Ago
Down -67%
Vs. Year Ago
Up 29%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 59 sold this month in Beachwood, Pine Beach, Ocean Gate and Bayville Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 139 units or 67%. The total number of active inventory this March was 70 compared to 209 in March 2020. This month's total of 70 is higher than the previous month's total supply of available inventory of 63, an increase of 11%.

Median Sale Price
Last March, the median sale price for Beachwood, Pine Beach, Ocean Gate and Bayville Homes was $255,450. This March, the median sale price was $330,000, an increase of $74,550 compared to last year. The current median sold price is 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
85
Current Contracts
70
Sold Vs. List Price
100.4%
Months of Supply
1.2
Up 16%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In March, there was 1.2 months of supply available in Beachwood, Pine Beach, Ocean Gate and Bayville, compared to 3.9 in March 2020. That is a decrease of 69% 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 85 homes newly listed for sale in Beachwood, Pine Beach, Ocean Gate and Bayville compared to 73 in March 2020, an increase of 16%. There were 70 current contracts pending sale this March compared to 56 a year ago. The number of current contracts is 25% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Beachwood, Pine Beach, Ocean Gate and Bayville was 100.4% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 52, a decrease of 56%.

The Long & Foster Market Minute Beachwood, Pine Beach, Ocean Gate and Bayville are defined as properties listed in zip code/s 08722, 08741, 08740 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.