Our Methodology:
Current Inventory: Number of currently active listings as reported to the South Jersey Shore regional MLS at the beginning of the month.  Our Report aggregates data for Residential Single Family and Condominiums Homes only.  Multi-Family, Commercial and Land listings are excluded from this study.

Absorption Rate: The Current Monthly Supply... How many months it would take to sell all active listings in a given market.  We calculate it by dividing the number of listings by the average number of closings over the prior 6 months. Historically, an absorption rate between 6-7 months indicates a balanced market.

Here is a Look at Current Absorption Rates for the Towns and Communities around Southern New Jersey.

Town
Listings Taken
2Q16
Listings Taken
2Q17
% Change
Current Inventory
Absorption Rate (Months)
Days on Market
Linwood
6673+11%10711.7105
Northfield
6660
-9%705.664
Somers Point
8788+1%1036.4119
Absecon
10369-33%926.9102
Pleasantville
125116-7%123658
Egg Harbor City
38
40+5%549.584
Egg Harbor Township
329291-11.5%3305.789
Galloway Township
254255nc2915.794
Hamilton Township
184180-1%
2667.791
Mullica Township
2530+2%399.8112
Hammonton
6859-13%595.670

Seashore Communities

Town
Listings Taken
2Q16
Listings Taken
2Q17
% Change
Current Inventory
Absorption Rate (Months)
Days on Market
Ventnor
169159-6%2571190
Margate
228205
-10%30812.7102
Longport
4038-5%10732214
Brigantine
262191-27%39610.4135
Atlantic City
238
204
-14%3169.2126
Ocean City
379349-8%5036100
Upper Township
11194
-15%1106.4100

And Wait... There's More!

Because we're working in quite literally, perhaps the most segmented markets ever historically... We are taking it a step further and breaking down absorption rate based on price ranges.  Below Median, Above Median and 2X Median (Luxury).

It's time these segments have been formally published in a report so homeowners know how to properly gage the market conditions and the realistic likelihood of selling and selling quickly in today's market.

We've compiled that report.

Our report segments absorption rates in 3 price categories based on 2Q17 Median Sale Price:

a.) Below Median Sale Price

b.) Above Median Sale price up to 2 times median

c.) 2 times + Median (described as 'luxury')


Town2Q17 Median $Absorption Below MedianAbsorption Above MedianAbsorption at 2X+ Median
Linwood$222,5004.71350
Northfield$145,0003.57.412
Somers Point$179,0002.910.818
Absecon$155,0004.610.637.5
Pleasantville$49,0003.29.59.6
Egg Harbor City$80,0007.49.430
Egg Harbor Township$170,0003.86.724
Galloway Township$152,00037.916.4
Hamilton Township$122,00048.725
Mullica Township$120,0007620.5
Hammonton$180,00037.741

Seashore Communities

Town2Q17 Median $
Absorption Below Median
Absorption Above Median
Absorption at 2X+ Median
Ventnor$208,000710.625.7
Margate$460,000912.824
Longport$670,0002954.521
Brigantine$255,0004.91320
Atlantic City$63,0002.81318.4
Ocean City$515,000
55.812
Upper Township$261,2505.48.26


Our Goal is that each of our clients is best prepared to make the best possible and most educated decision regarding one of their most valuable assets. 

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