The Long & Foster Market Minute

Focus On: Freehold Borough and Freehold Township Housing Market June 2021

Zip Code(s): 07728
Units Sold
52
Active Inventory
107
Median Sale Price
$470,000
Days On Market
16
Down -19%
Vs. Year Ago
Down -35%
Vs. Year Ago
Up
Vs. Year Ago
Down -65%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 52 sold this month in Freehold Borough and Freehold Township Real Estate versus 67 last month, a decrease of 22%. This month's total units sold was lower than at this time last year, a decrease of 19% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 58 units or 35%. The total number of active inventory this June was 107 compared to 165 in June 2020. This month's total of 107 is lower than the previous month's total supply of available inventory of 110, a decrease of 3%.

Median Sale Price
Last June, the median sale price for Freehold Borough and Freehold Township Homes was $326,000. This June, the median sale price was $470,000, an increase of $144,000 compared to last year. The current median sold price is 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
112
Current Contracts
96
Sold Vs. List Price
104.1%
Months of Supply
2.1
Down -10%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In June, there was 2.1 months of supply available in Freehold Borough and Freehold Township, compared to 2.6 in June 2020. That is a decrease of 20% 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 112 homes newly listed for sale in Freehold Borough and Freehold Township compared to 125 in June 2020, a decrease of 10%. There were 96 current contracts pending sale this June compared to 126 a year ago. The number of current contracts is 24% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Freehold Borough and Freehold Township was 104.1% 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 16, lower than the average last year, which was 46, a decrease of 65%.

The Long & Foster Market Minute Freehold Borough and Freehold Township are defined as properties listed in zip code/s 07728.
*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.