The Long & Foster Market Minute

Focus On: Brick Housing Market June 2021

Zip Code(s): 08723
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 13%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -55%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 78 sold this month in Brick 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 40 units or 28%. The total number of active inventory this June was 105 compared to 145 in June 2020. This month's total of 105 is higher than the previous month's total supply of available inventory of 98, an increase of 7%.

Median Sale Price
Last June, the median sale price for Brick Homes was $304,000. This June, the median sale price was $369,500, an increase of 22% or $65,500 compared to last year. The current median sold price is 3% higher 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 23%
Vs. Year Ago
Down -22%
Vs. Year Ago
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Brick, compared to 2.1 in June 2020. That is a decrease of 36% 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 103 homes newly listed for sale in Brick compared to 84 in June 2020, an increase of 23%. There were 80 current contracts pending sale this June compared to 102 a year ago. The number of current contracts is 22% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Brick was 103.9% 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 27, lower than the average last year, which was 60, a decrease of 55%.

The Long & Foster Market Minute Brick are defined as properties listed in zip code/s 08723.
*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.