Margate housing inventory is tight. Just 59 single family homes for sale. 13 had price reductions. That’s 22% of inventory.
That’s according to Sherri Lilienfeld of Apex Prime Realty.
Margate Median Single-Family Home Price = $1.8 mil
Some sellers are indifferent. If they can’t get their price, they won’t sell.
No seller motivation? Maybe. Unless there is a ‘life changing’ event like job loss, family issues. etc.
Some sellers getting impatient.
Ventnor Home Inventory Trends Down.
At end of Aug 2022, there were 66 Ventnor single family homes available. By end of Sept 2022, only 54 Ventnor homes were on the market. That’s an 18% drop in Ventnor housing inventory.
Ventnor median home price was $837,500. Now it’s $980,000.
2nd home & vacation markets less affected by chaotic, national Real Estate marketSherri Lilienfeld, ApexPrime.com
Longport Real Estate
Only 7 for sale, 3 of which had price reductions
- Longport lowest list price: $1.8mil
- Longport highest list price: $8.5mil
- Longport median price: $3.6mil
3 thoughts on “Downbeach Real Estate Webcast: Very Low Home Inventory”
Too much equity in the market for now. Short of a complete collapse in the stock market, low inventory will keep demand active. Unlike the Recession, which there was little skin in the game for borrowers, buyers now can take a little more time with their decisions. While interest rates have made a impact, the market is still flush with qualified buyers less sensitive to Fed policies.That being said, things can change quickly for unforeseen reasons. Corporate America still has some shaking out to do. Jobs will be the next economic indicator to get rattled. Ok, smarter folks then me can chime in from here.
Those with cash will have the greatest opportunity in the coming months.
Thank you Sherri, for the good news.
Can you send out updated numbers, every so often?
Is there anything our towns can do to increase values? Flood mitigation, bike lanes, boardwalk extension, zoning changes?