Downbeach single family homes: Ventnor and Margate Real Estate running neck and neck for length of time on market. Currently, it takes an average of 3 months to sell a Downbeach home.
Total Number of Downbeach Homes Sold. FEB 2020.
- Ventnor – 17
- Margate – 19
- Longport – 1
Price. Ventnor median home price over last 12 months is $310,000. Margate more than doubles that at $650,000.
Longport housing inventory. Too many homes on the market? 44 of them. Only 1 sold in past 30 days. Longport homes lingering on the market longer. Much longer. As much as 185 days.
Longport currently suffering from low Real Estate absorption rate. It’ll take longer to sell those beautiful homes. Supply currently exceeds demand. What to do? Be aggressive with pricing property.
Much needed good news in Atlantic City. Homes are finally selling faster. Average days on market is 59. The 12 month median price of Atlantic City homes is $80,700.
* Absorption rate is the rate at which homes sell in a given area during a given time period. Absorption rate is calculated by dividing the number of sales in a given month by the number of available homes for sale. It is the inverse of months of supply.
Downbeach Condominiums. One bedroom condos in Ventnor moving quickly.
12 Ventnor condos sold last month. 15 still left on market. Very high compared to Margate, which only had one, 1-bedroom condo sold in past 30 days.
No condos were sold in Longport last month. Inventory seems too high for demand. 11 condos now on the market.
Summer is almost here. Now’s the time to wheel and deal. Price your home aggressively. Get the attention of the buyers.
See ‘Pricing Your Home’ from Sherri Lilienfeld of Apex Prime Realty