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
3Q16
Listings Taken
3Q17
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Linwood
65
64
-1.5%
99
7.6
102
Northfield
66
54
-18%
79
6.5
74
Somers Point
86
78
-9.3%
95
5.4
85
Absecon
76
51
-33%
84
6
80
Pleasantville
99
104
+5%
113
5.1
71
Egg Harbor City
29
39
+34.8
46
7.3
77
Egg Harbor Township
286
281
-2%
336
5.3
75
Galloway Township
224
212
-5.4%
266
5.4
75
Hamilton Township
196
183
-6.6%
229
6.3
79
Mullica Township
21
30
+43%
35
6.4
59
Hammonton
75
49
-35%
60
6.4
57

Seashore Communities

Town
Listings Taken
3Q16
Listings Taken
3Q17
% Change
Current Inventory
Absorption Rate (Months Supply)
Days on Market
Ventnor
184
161
-12.5%
214
8.9
107
Margate
225
228
+1.3%
318
10.4
100
Longport
48
45
-6%
120
24.8
188
Brigantine
216
184
-14.8%
347
9.3
120
Atlantic City
215
172
-20%
299
8.1
110
Ocean City
424
419
-1%
542
7.4
106
Upper Township
86
71
-17%
98
6.1
116

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 2Q17 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
3Q17 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Linwood
$255,000
4.4
8.444
Northfield
$167,000
5.28.310
Somers Point
$183,499
2.9
7.215
Absecon
$148,200
5.56.19
Pleasantville
$60,000
3.2
8.84.6
Egg Harbor City
$103,500
5.79
17.6
Egg Harbor Township
$185,000
4.16.48.5
Galloway Township
$170,000
2.97.433
Hamilton Township
$129,500
3.56.725.5
Mullica Township
$56,250
18.48.7
Hammonton
$170,000
3.2
841

Seashore Communities

Town
3Q17 Median $
Months Supply Below Median
Months Supply Above Median
Months Supply at 2X+ Median
Ventnor
$221,950
5.79.618
Margate
$465,000
71216.9
Longport
$995,000
24
20.329
Brigantine
$295,000
6.18.926.6
Atlantic City
$82,500
5.69.518.8
Ocean City
$502,000
5.7
6.313.4
Upper Township
$255,000
4.76.99.8


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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