The Long & Foster Market Minute

Focus On: Belmar Housing Market June 2021

Zip Code(s): 07719
Units Sold
32
Active Inventory
55
Median Sale Price
$615,000
Days On Market
23
Up 10%
Vs. Year Ago
Down -32%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 32 sold this month in Belmar Real Estate versus 27 last month, an increase of 19%. 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 26 units or 32%. The total number of active inventory this June was 55 compared to 81 in June 2020. This month's total of 55 is lower than the previous month's total supply of available inventory of 61, a decrease of 10%.

Median Sale Price
Last June, the median sale price for Belmar Homes was $502,000. This June, the median sale price was $615,000, an increase of 23% or $113,000 compared to last year. The current median sold price is 2% 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
38
Current Contracts
32
Sold Vs. List Price
102.7%
Months of Supply
1.7
Down -12%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up
Vs. Year Ago
Down -38%
Vs. Year Ago

Months of Supply
In June, there was 1.7 months of supply available in Belmar, compared to 2.8 in June 2020. That is a decrease of 38% 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 38 homes newly listed for sale in Belmar compared to 43 in June 2020, a decrease of 12%. There were 32 current contracts pending sale this June compared to 40 a year ago. The number of current contracts is 20% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Belmar was 102.7% 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 23, lower than the average last year, which was 56. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Belmar are defined as properties listed in zip code/s 07719.
*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.