The Long & Foster Market Minute

Focus On: Hamilton Square-Mercerville Housing Market March 2021

Zip Code(s): 08690 and 08619
Units Sold
41
Active Inventory
33
Median Sale Price
$280,999
Days On Market
45
Down -32%
Vs. Year Ago
Down -72%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 41 sold this month in Hamilton Square-Mercerville Real Estate versus 40 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 32% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 84 units or 72%. The total number of active inventory this March was 33 compared to 117 in March 2020. This month's total of 33 is lower than the previous month's total supply of available inventory of 41, a decrease of 20%.

Median Sale Price
Last March, the median sale price for Hamilton Square-Mercerville Homes was $267,450. This March, the median sale price was $280,999, an increase of 5% or $13,549 compared to last year. The current median sold price is 1% 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
70
Current Contracts
73
Sold Vs. List Price
100.8%
Months of Supply
0.8
Up 17%
Vs. Year Ago
Up 66%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Down -59%
Vs. Year Ago

Months of Supply
In March, there was 0.8 months of supply available in Hamilton Square-Mercerville, compared to 2.0 in March 2020. That is a decrease of 59% 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 70 homes newly listed for sale in Hamilton Square-Mercerville compared to 60 in March 2020, an increase of 17%. There were 73 current contracts pending sale this March compared to 44 a year ago. The number of current contracts is 66% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Hamilton Square-Mercerville was 100.8% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 45, lower than the average last year, which was 62, a decrease of 27%.

The Long & Foster Market Minute Hamilton Square-Mercerville are defined as properties listed in zip code/s 08690 and 08619.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.