The Long & Foster Market Minute

Focus On: Point Pleasant, Point Pleasant Beach and Bay Head Housing Market June 2021

Zip Code(s): 08742
Units Sold
47
Active Inventory
103
Median Sale Price
$545,000
Days On Market
36
Up 21%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -49%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 47 sold this month in Point Pleasant, Point Pleasant Beach and Bay Head Real Estate versus 51 last month, a decrease of 8%. This month's total units sold was higher than at this time last year, an increase of 21% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 26%. The total number of active inventory this June was 103 compared to 139 in June 2020. This month's total of 103 is higher than the previous month's total supply of available inventory of 99, an increase of 4%.

Median Sale Price
Last June, the median sale price for Point Pleasant, Point Pleasant Beach and Bay Head Homes was $485,000. This June, the median sale price was approximately the same at $545,000. The current median sold price is 12% higher than in June 2020.

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
54
Sold Vs. List Price
99.2%
Months of Supply
2.2
Down -11%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 4.4%
Vs. Year Ago
Down -38%
Vs. Year Ago

Months of Supply
In June, there was 2.2 months of supply available in Point Pleasant, Point Pleasant Beach and Bay Head, compared to 3.6 in June 2020. That is a decrease of 39% 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 Point Pleasant, Point Pleasant Beach and Bay Head compared to 79 in June 2020, a decrease of 11%. There were 54 current contracts pending sale this June compared to 55 a year ago. The number of current contracts is 2% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Point Pleasant, Point Pleasant Beach and Bay Head was 99.2% of the average list price, which is 4.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 70, a decrease of 49%.

The Long & Foster Market Minute Point Pleasant, Point Pleasant Beach and Bay Head are defined as properties listed in zip code/s 08742.
*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.