The Downbeach real estate market continues to soar.
Some of the demand coming from those looking to escape big city life for small town charm.
It’s still a seller’s market. Downbeach inventory is very low.
The Margate residential (single family home) market was up 30.2% during 3rd quarter 2020 over the same period last year.
The Margate condominium market up 12.9% for the same referenced time.
Ventnor Real Estate and home market surging in 2020.
The number of Ventnor residential units sold in 3rd quarter 2020 are 50% higher than the same period last year.
Ventnor condo sales are up a whopping 87.5%.
Ventnor residential sale prices are up 45.3%. The only surprise is the average sale price on condos is down by 9.3%. This is due to price for 3 Bedroom condos are really skewing the numbers. Average list price of 3 BR units was $523,500 in 2019 compared to $367,828 this year – a huge difference.
See: Ventnor Home Sales
If you’re considering selling, now’s a great time to put your property on the market.
Feel free to contact me, Sherri Lilienfeld of Apex Prime Realty for a free comparative market analysis of your property’s value.
|Area||# sold||Avg$ sold|
|3rd Q 2019||Margate Residential||63||$799,026|
|3rd Q 2020||Margate Residential||82||$914,393|
|3rd Q 2019||Margate Condo||48||$357,298|
|3rd Q 2020||Margate Condo||70||$403,258|
|3rd Q 2019||Ventnor Residential||54||$360,720|
|3rd Q 2020||Ventnor Residential||81||$524,204|
|3rd Q 2019||Ventnor Condo||24||$252,806|
|3rd Q 2020||Ventnor Condo||45||$229,184|
Market Statistics from the South Jersey Regional MLS. Non-MLS properties are not included in these statistics. All information is deemed reliable but is not guaranteed.