Inventory in Atlantic County has grown over the past year, with active listings up sharply and now above 2,000. New listings have also risen by nearly 18 percent year over year, while pending sales jumped about 25 percent, showing solid contract activity. Even with that demand, homes are taking much longer to sell than a year ago, with median days on market now just over two months.
Pricing is adjusting to this mix of stronger supply and steady demand. The typical home value is only slightly higher than a year ago, and it slipped more than 7 percent from June to July, even as the median list price edged up month over month but dipped a bit versus last year.
Conditions point to a neutral market, with about 5.4 months of supply in Atlantic County compared with roughly 3.2 months statewide in New Jersey. A smaller share of homes is selling above list price than earlier in the year, and the average sale-to-list ratio is just under 99 percent, suggesting buyers have somewhat more leverage even though sellers are still closing deals near asking. With homes taking longer to go under contract yet still attracting solid interest, both buyers and sellers can benefit from an Agent Pronto–recommended agent who understands how to navigate these shifting conditions.
