Have you Seen our 3rd Quarter Market Report?
Learn

Have you Seen our 3rd Quarter Market Report?

Learn

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
4Q16
Listings Taken
4Q17
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Linwood
4151+24%836.9100
Northfield
5856-3%564.692
Somers Point
6355-12.7%915.689
Absecon
4942-14%866.197
Pleasantville
10481-22%1074.675
Egg Harbor City
2928-3%365.887
Egg Harbor Township
257264+2.7%2764.465
Galloway Township
235163-30.6%2465.382
Hamilton Township
137133-3%1724.769
Mullica Township
187-61%264.677
Hammonton
4340-7%435.2116

Seashore Communities

Town
Listings Taken
4Q16
Listings Taken
4Q17
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Ventnor
108111+2.7%1716.984
Margate
159163+2.5%30910.7107
Longport
3437+8.8%11624.7156
Brigantine
182175-3.8%3358.5127
Atlantic City
180154-14.4%2728.6113
Ocean City
343320-6.7%5357.481
Upper Township
4861+27%986.977

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
4Q17 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Linwood
$177,250
3.87.411
Northfield
$163,500
2.95.49
Somers Point
$183,000
4.54.917
Absecon
$138,500
4.27.712
Pleasantville
$53,500
365.4
Egg Harbor City
$46,750
2.35.39.2
Egg Harbor Township
$186,000
44.48
Galloway Township
$166,000
3.55.774
Hamilton Township
$135,000
3.84.613.6
Mullica Township
$92,500
1.44.610.7
Hammonton
$225,000
3.86.712

Seashore Communities

Town
3Q17 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Ventnor
$226,500
4.47.313.5
Margate
$475,000
7.31216
Longport
$732,500
22.517.336
Brigantine
$268,000
4.99.620
Atlantic City
$90,000
5.5820.4
Ocean City
$524,000
6.56.616.8
Upper Township
$277,500
66.315.6


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. 

 Bidding Wars Abound… How Long Will They Continue?

Without a large wave of new listings coming to market, buyers will continue competing with...

Read More

 

U.S. Housing Inventory Crunch Continues… List Your House Today!

Demand for your home is very strong right now while your competition (other homes for sale...

Read More

 

Tax Reform & Housing: A Reference Guide

What Happened With the 3 Major Real Estate Concerns The Impact on the Housing Market Add...

Read More

 

Who you Work with Matters

Meet the Team

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info