The Long & Foster Market Minute

Focus On: North Jersey Shore Housing Market June 2021

Units Sold
2,100
Active Inventory
3,318
Median Sale Price
$430,000
Days On Market
26
Up 20%
Vs. Year Ago
Down -42%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -57%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 2,100 sold this month in North Jersey Shore Real Estate versus 1,851 last month, an increase of 13%. This month's total units sold was higher than at this time last year, an increase of 20% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2,430 units or 42%. The total number of active inventory this June was 3,318 compared to 5,748 in June 2020. This month's total of 3,318 is lower than the previous month's total supply of available inventory of 3,393, a decrease of 2%.

Median Sale Price
Last June, the median sale price for North Jersey Shore Homes was $350,000. This June, the median sale price was $430,000, an increase of 23% or $80,000 compared to last year. The current median sold price is 5% 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
2,814
Current Contracts
2,395
Sold Vs. List Price
102.2%
Months of Supply
1.6
Down -7%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up
Vs. Year Ago
Down -52%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in North Jersey Shore, compared to 3.3 in June 2020. That is a decrease of 52% 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 2,814 homes newly listed for sale in North Jersey Shore compared to 3,027 in June 2020, a decrease of 7%. There were 2,395 current contracts pending sale this June compared to 2,706 a year ago. The number of current contracts is 11% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in North Jersey Shore was 102.2% 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 26, lower than the average last year, which was 60, a decrease of 57%.

The Long & Foster Market Minute *Defined as: the counties of Monmouth and Ocean in NJ.
*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.