The Long & Foster Market Minute

Focus On: Howell and Farmingdale Housing Market June 2021

Zip Code(s): 07731 and 07727
Units Sold
75
Active Inventory
99
Median Sale Price
$477,009
Days On Market
24
Up
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 29%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 75 sold this month in Howell and Farmingdale 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 74 units or 43%. The total number of active inventory this June was 99 compared to 173 in June 2020. This month's total of 99 is lower than the previous month's total supply of available inventory of 115, a decrease of 14%.

Median Sale Price
Last June, the median sale price for Howell and Farmingdale Homes was $370,000. This June, the median sale price was $477,009, an increase of $107,009 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
88
Current Contracts
90
Sold Vs. List Price
105.3%
Months of Supply
1.3
Down -13%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up
Vs. Year Ago
Down -73%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Howell and Farmingdale, compared to 4.9 in June 2020. That is a decrease of 73% 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 88 homes newly listed for sale in Howell and Farmingdale compared to 101 in June 2020, a decrease of 13%. There were 90 current contracts pending sale this June compared to 80 a year ago. The number of current contracts is 13% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Howell and Farmingdale was 105.3% 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 24, lower than the average last year, which was 32, a decrease of 25%.

The Long & Foster Market Minute Howell and Farmingdale are defined as properties listed in zip code/s 07731 and 07727.
*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.