Wildwood Housing Market – September 2024 Overview
Units Sold: 58
Active Inventory: 275
Median Sale Price: $550,000
Days on Market: 107
Market Trends
Units Sold: A slight decrease to 58 homes sold this September, down 2% from August and 13% from September 2023.
Active Inventory: Increased by 36 units (15%) from last year, with 275 homes available compared to 239 in September 2023. This is also up from 261 last month.
Median Sale Price: Rose 16% from last year, increasing from $475,000 in September 2023 to $550,000 this September. The current median is 19% lower than August.
New Listings & Contracts
New Listings: 94 homes listed, a 29% increase from September 2023.
Current Contracts: 62 contracts pending, up 41% from 44 last year.
Market Supply
Months of Supply: Increased to 4.7 months, up from 3.6 months in September 2023, indicating a more balanced market.
Sale Price vs. List Price
Homes sold for an average of 97.9% of their list price, which is 1.9% lower than last year.
Days on Market
Average days on market increased to 107, up from 96 last year.
Summary
The Wildwood housing market is experiencing a mixed landscape with an increase in active inventory and median sale prices, but a decline in units sold compared to last year. While new listings are up, the overall demand appears to be stabilizing.