The Long & Foster Market Minute

Focus On: Spring Lake and Sea Girt Housing Market June 2021

Zip Code(s): 07762 and 08750
Units Sold
22
Active Inventory
51
Median Sale Price
$1,362,500
Days On Market
46
Down -19%
Vs. Year Ago
Down -50%
Vs. Year Ago
Up
Vs. Year Ago
Down -48%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 22 sold this month in Spring Lake and Sea Girt Real Estate versus 24 last month, a decrease of 8%. This month's total units sold was lower than at this time last year, a decrease of 19% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 52 units or 50%. The total number of active inventory this June was 51 compared to 103 in June 2020. This month's total of 51 is lower than the previous month's total supply of available inventory of 58, a decrease of 12%.

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 Spring Lake and Sea Girt Homes was $870,000. This June, the median sale price was $1,362,500, an increase of $492,500 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
28
Current Contracts
30
Sold Vs. List Price
97.5%
Months of Supply
2.3
Down -24%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In June, there was 2.3 months of supply available in Spring Lake and Sea Girt, compared to 3.8 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 28 homes newly listed for sale in Spring Lake and Sea Girt compared to 37 in June 2020, a decrease of 24%. There were 30 current contracts pending sale this June compared to 25 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Spring Lake and Sea Girt was 97.5% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 46, lower than the average last year, which was 89, a decrease of 48%.

The Long & Foster Market Minute Spring Lake and Sea Girt are defined as properties listed in zip code/s 07762 and 08750.
*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.