The Sea Shore Team of
Long and Foster
Real Estate Market Report:
Sea Shore Area Property Sales:
Could housing be following a normal trend? Historically, at the Sea Shore Area competition tends to taper in early summer following the spring home buying season. The Sea Shore market is showing signs of easing off the frenzied pace seen in recent months. Mortgage application purchase demand has slowed slightly. However, with inventory tight, the slight slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller’s market.
AVAILABLE INVENTORY IN MAY:
The total number of Sea Isle City active inventory in May was 43 compared to
86 in May 2020. Last months total inventory was higher than the previous month’s total supply of available inventory by 34, an increase of 26%.
UNITS SOLD IN MAY:
In May, 31 total units were sold in Sea Isle City which was an increase from the previous month. Sea Isle City’s total units sold was higher than this time last year
MEDIAN SALE PRICE IN MAY:
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Sea Isle City Homes was $825,000. This past May, the median sale price was $1,290,500. an increase $465,500 compared to last year.
SALE PRICE TO LIST PRICE RATIO IN MAY:
In May, the average sale price in Sea Isle City was 98.7% of the average list price, which is 3.0% higher than at this time last year.
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