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
1Q17
Listings Taken
1Q18
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Linwood
5365+22.6%959.9148
Northfield
6053-11.7%645.191
Somers Point
7384+15%1179.796
Absecon
7764-16.9%806.875
Pleasantville
133103-22.5%85483
Egg Harbor City
2633+26.9%395.290
Egg Harbor Township
325297-8.6%3255.776
Galloway Township
210226+7.6%2725.990
Hamilton Township
175166-5%1915.385
Mullica Township
1932+68%245.699
Hammonton
7028-60%475.283

Seashore Communities

Town
Listings Taken
1Q17
Listings Taken
1Q18
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Ventnor
192148-23%1938.287
Margate
234246+5%29712118
Longport
7250-30.5%11936.9119
Brigantine
227248+9.3%36310.3132
Atlantic City
204185-9.3%2748.788
Ocean City
456426-6.6%5155.289
Upper Township
9070-22%968.2114

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(Starter Homes), Above Median(Trade Up Homes) and 2X Median (Premium or 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 4Q17 Median Sale Price:

a.) Below Median Sale Price (Starter Homes)

b.) Above Median Sale price up to 2 times median (Trade Up Homes)

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


Town
1Q18 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Linwood
$260,4007.49100
Northfield
$159,7502.47.48.4
Somers Point
$173,7004.99.546
Absecon
$136,0002.6936
Pleasantville
$52,0001.75.86.3
Egg Harbor City
$65,9003612
Egg Harbor Township
$155,0003.95.814
Galloway Township
$157,5003.66.434.6
Hamilton Township
$141,2503.45.718.9
Mullica Township
$237,5003.6635
Hammonton
$178,5004.15.510

Seashore Communities

Town
1Q18 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Ventnor
$224,5004.3917.8
Margate
$497,500101220.6
Longport
$631,25026.71866
Brigantine
$290,0004.97.220.6
Atlantic City
$69,00037.615.8
Ocean City
$531,8754.34.515.3
Upper Township
$275,0004.57.47.5


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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