The Long & Foster Market Minute

Focus On: Sea Isle City Housing Market June 2021

Zip Code(s): 08243
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 28%
Vs. Year Ago
Down -30%
Vs. Year Ago
Vs. Year Ago
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 23 sold this month in Sea Isle City Real Estate versus 32 last month, a decrease of 28%. This month's total units sold was higher than at this time last year, an increase of 28% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 30%. The total number of active inventory this June was 44 compared to 63 in June 2020. This month's total of 44 is higher than the previous month's total supply of available inventory of 42, an increase of 5%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Sea Isle City Homes was $745,000. This June, the median sale price was $1,250,000, an increase of $505,000 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 4%
Vs. Year Ago
Down -60%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In June, there was 1.9 months of supply available in Sea Isle City, compared to 3.5 in June 2020. That is a decrease of 45% 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 25 homes newly listed for sale in Sea Isle City compared to 24 in June 2020, an increase of 4%. There were 16 current contracts pending sale this June compared to 40 a year ago. The number of current contracts is 60% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Sea Isle City was 99.3% of the average list price, which is 3.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 91, lower than the average last year, which was 195. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Sea Isle City are defined as properties listed in zip code/s 08243.
*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 CMCAOR 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 CMCAOR or Long & Foster Real Estate, Inc.