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Sea Isle City Housing Market – September 2024 Overview

Sea Isle City Housing Market – September 2024 Overview

Units Sold: 8
Active Inventory: 57
Median Sale Price: $1,557,500
Days on Market: 106

Market Trends
Units Sold: A total of 8 homes sold in September, down from 9 last year, reflecting a 15% decrease.
Active Inventory: Current inventory decreased by 10 units (15%) compared to last year, with 57 homes available this September, up from 51 last month.
Median Sale Price: Increased by 4% from $1,500,000 in September 2023 to $1,557,500 this month, but down 6% from August.

New Listings & Contracts
New Listings: 20 homes were newly listed, up 33% from 15 last year.
Current Contracts: 10 contracts pending sale, double the number from September 2023.

Market Supply
Months of Supply: Increased to 7.1 months, a 60% rise from 4.5 months last year, indicating a more balanced market.

Sale Price vs. List Price
Homes sold for an average of 95.7% of their list price, which is 2.4% lower than last year.

Days on Market
Average days on market decreased to 106, down from 134 last year, indicating quicker sales.

Summary
The Sea Isle City housing market shows a decline in units sold but an increase in median sale prices. Inventory levels are down from last year, yet new listings and pending contracts indicate a resilient market despite the challenges.

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