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
2Q17
Listings Taken
2Q18
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Linwood
7388+7.2%89780
Northfield
6275+21%615.291
Somers Point
9094
856.459
Absecon
7375
523.983
Pleasantville
116101
853.762
Egg Harbor City
4036
342.999
Egg Harbor Township
202197
3385.864
Galloway Township
258259
2364.376
Hamilton Township
179181
1935.464
Mullica Township
3017
28790
Hammonton
5954
495.367

Seashore Communities

Town
Listings Taken
2Q17
Listings Taken
2Q18
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Ventnor
159166
1837.377
Margate
205192
29910.889
Longport
3859
9628.8154
Brigantine
190224
3118.496
Atlantic City
204163
2417.897
Ocean City
346401
553794
Upper Township
9497
1148.786

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 on2Q18 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
2Q18 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Linwood
$221,000



Northfield
$175,000



Somers Point
$166,250



Absecon
$137,000



Pleasantville
$56,587



Egg Harbor City
$117,500



Egg Harbor Township
$194,450



Galloway Township
$151,500



Hamilton Township
$140,000



Mullica Township
$180,000



Hammonton
$209,250



Seashore Communities

Town
2Q18 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Ventnor
$225,000



Margate
$450,000



Longport
$662,500



Brigantine
$280,500



Atlantic City
$72,100



Ocean City
$515,000



Upper Township
$275,000




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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