The Long & Foster Market Minute

Focus On: Laurelton and Herbertsville Housing Market June 2021

Zip Code(s): 08724
Units Sold
79
Active Inventory
102
Median Sale Price
$360,000
Days On Market
22
Up 23%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -63%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 79 sold this month in Laurelton and Herbertsville Real Estate versus 89 last month, a decrease of 11%. This month's total units sold was higher than at this time last year, an increase of 23% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 76 units or 43%. The total number of active inventory this June was 102 compared to 178 in June 2020. This month's total of 102 is lower than the previous month's total supply of available inventory of 116, a decrease of 12%.

Median Sale Price
Last June, the median sale price for Laurelton and Herbertsville Homes was $296,500. This June, the median sale price was $360,000, an increase of 21% or $63,500 compared to last year. The current median sold price is 7% 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
100
Current Contracts
93
Sold Vs. List Price
102.3%
Months of Supply
1.3
Down -2%
Vs. Year Ago
No Change
Vs. Year Ago
Up 4.8%
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Laurelton and Herbertsville, compared to 2.8 in June 2020. That is a decrease of 54% 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 100 homes newly listed for sale in Laurelton and Herbertsville compared to 102 in June 2020, a decrease of 2%. There were 93 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 37% higher than last month.

Sale Price to List Price Ratio
In June, the average sale price in Laurelton and Herbertsville was 102.3% of the average list price, which is 4.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 59, a decrease of 63%.

The Long & Foster Market Minute Laurelton and Herbertsville are defined as properties listed in zip code/s 08724.
*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.