The Long & Foster Market Minute

Focus On: Brigantine and Atlantic City Housing Market March 2021

Zip Code(s): 08203 and 08401
Units Sold
104
Active Inventory
599
Median Sale Price
$325,000
Days On Market
84
Up
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -6%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 104 sold this month in Brigantine and Atlantic City 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 245 units or 29%. The total number of active inventory this March was 599 compared to 844 in March 2020. This month's total of 599 is lower than the previous month's total supply of available inventory of 616, a decrease of 3%.

Median Sale Price
Last March, the median sale price for Brigantine and Atlantic City Homes was $253,000. This March, the median sale price was $325,000, an increase of $72,000 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
156
Current Contracts
130
Sold Vs. List Price
96.9%
Months of Supply
5.8
Up 53%
Vs. Year Ago
Up 189%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -52%
Vs. Year Ago

Months of Supply
In March, there was 5.8 months of supply available in Brigantine and Atlantic City, compared to 11.9 in March 2020. That is a decrease of 52% 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 156 homes newly listed for sale in Brigantine and Atlantic City compared to 102 in March 2020, an increase of 53%. There were 130 current contracts pending sale this March compared to 45 a year ago. The number of current contracts is 189% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Brigantine and Atlantic City was 96.9% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 84, lower than the average last year, which was 89, a decrease of 6%.

The Long & Foster Market Minute Brigantine and Atlantic City are defined as properties listed in zip code/s 08203 and 08401.
*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 SJSMLS 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 SJSMLS or Long & Foster Real Estate, Inc.