Bayville 08721, Home Market Trends for April 29, 2015

Posted by Robert McLaughlin on Wednesday, April 29th, 2015 at 4:16pm.

This Week

The median list price in BAYVILLE, NJ 08721 this week is $285,000 Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall condition are weakening a bit.

Suppy and Demand

While prices have been a a plateau for a number of weeks, this is a Buyer's market and the supply of homes listed has started growing relative to demand. This indication that prices could easily resume a downward trend in conjuction with the MAI ( Market Action Index). Prices are unlikely to move significantly higher until there is a persistent upward shirt in the MAI.

Real-Time Market Profile

Median List Price $285,000
Asking Price Per Square Foot  $158
Average Days on Market (DOM)  171
Percent of Properties with Price Decrease  23%
Percent Relisted (reset DOM)  38%
Percent Flip (price increased)  1 %
Median House Size (sq ft)  1700
Median Lot Size  8,002-10,000 sq ft
Median Number of Bedrooms  3.0
Median Number of Bathrooms  2.0
Market Action Index - Strong Buyer  21.4

Home Characteristics per Quartile

Investagate the market in quartiles - where each quartile is 25% of homes ordered by price.

 Quartile  Median Price  Sq. Ft. Lot Size   Beds  Baths  Age Inventory  New   Absorbed  Dom  
 Top/First  $ 469,000  2561  6,500-8000sqft  4.0  3.0  14  67  4  3  220 Most expensive 25% of properties 
 Upper/Second  $ 329,900  2060  8,001-10,000sqft  4.0  2.1  18  67  7  1  236  Upper-middle 25% of properties
 Lower/Third  $ 242,450  1588  8,001-10,000sqft  3.0   2.0  29  68  3  6  124  Lower-middle 25% of properties
 Bottom/Fourth  $ 151,000  1257  8,001-10,000sqft  2.0  1.0  46  68  6  4  106  Least expensive 25% of properties

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