The Long & Foster Market Minute

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

Zip Code(s): 08722, 08741, 08740 and 08721
Units Sold
69
Active Inventory
97
Median Sale Price
$330,000
Days On Market
19
Up 10%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -60%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 69 sold this month in Beachwood, Pine Beach, Ocean Gate and Bayville Real Estate versus 60 last month, an increase of 15%. This month's total units sold was higher than at this time last year, an increase of 10% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 43 units or 31%. The total number of active inventory this June was 97 compared to 140 in June 2020. This month's total of 97 is higher than the previous month's total supply of available inventory of 80, an increase of 21%.

Median Sale Price
Last June, the median sale price for Beachwood, Pine Beach, Ocean Gate and Bayville Homes was $274,000. This June, the median sale price was $330,000, an increase of 20% or $56,000 compared to last year. The current median sold price is 6% 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
99
Current Contracts
70
Sold Vs. List Price
103.6%
Months of Supply
1.4
Up 2%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In June, there was 1.4 months of supply available in Beachwood, Pine Beach, Ocean Gate and Bayville, compared to 2.2 in June 2020. That is a decrease of 37% 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 99 homes newly listed for sale in Beachwood, Pine Beach, Ocean Gate and Bayville compared to 97 in June 2020, an increase of 2%. There were 70 current contracts pending sale this June compared to 96 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 Beachwood, Pine Beach, Ocean Gate and Bayville was 103.6% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, lower than the average last year, which was 48, a decrease of 60%.

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.