The Long & Foster Market Minute

Focus On: Long Branch, Oakhurt, and Allenhurst Housing Market June 2021

Zip Code(s): 07740, 07755, 07711 and 07723
Units Sold
78
Active Inventory
180
Median Sale Price
$661,000
Days On Market
66
Up
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 31%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 78 sold this month in Long Branch, Oakhurt, and Allenhurst 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 61 units or 25%. The total number of active inventory this June was 180 compared to 241 in June 2020. This month's total of 180 is higher than the previous month's total supply of available inventory of 170, an increase of 6%.

Median Sale Price
Last June, the median sale price for Long Branch, Oakhurt, and Allenhurst Homes was $504,500. This June, the median sale price was $661,000, an increase of $156,500 compared to last year. The current median sold price is 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
106
Current Contracts
64
Sold Vs. List Price
97.7%
Months of Supply
2.3
Up 39%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -55%
Vs. Year Ago

Months of Supply
In June, there was 2.3 months of supply available in Long Branch, Oakhurt, and Allenhurst, compared to 5.1 in June 2020. That is a decrease of 55% 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 106 homes newly listed for sale in Long Branch, Oakhurt, and Allenhurst compared to 76 in June 2020, an increase of 39%. There were 64 current contracts pending sale this June compared to 50 a year ago. The number of current contracts is 28% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Long Branch, Oakhurt, and Allenhurst was 97.7% of the average list price, which is 3.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 66, lower than the average last year, which was 86, a decrease of 23%.

The Long & Foster Market Minute Long Branch, Oakhurt, and Allenhurst are defined as properties listed in zip code/s 07740, 07755, 07711 and 07723.
*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.