Ventnor Real Estate is hot, says New Jersey Monthly Magazine.
Contractors are busy. Lot’s of home building and upgrades.
‘They’re rehabbing everywhere,’ says Peter Romano, who purchased his three-bedroom ranch last year for under $350,000.
Ventnor is a great beach town, a hidden gem. At one time, seen as a ‘pass-thru’ town.
Why a boom in Ventnor vacation home sales?
- Historically low interest rates.
- Reduced foreign travel.
- Tax abatements.
- Fewer opportunities in over-developed shore towns.
- Convenient location
New Jersey’s Hot Housing Market: Ventnor.
- Non-commercial beachfront boardwalk connects with Atlantic City.
- 1,000 ft ocean fishing pier. Longest in New Jersey.
- Great restaurants and three new liquor licenses.
- Art Deco Ventnor Square Theater restored and reopened.
- Relatively affordable compared to neighboring Margate.
- Generally larger lots. Wide variety of mature housing stock.
- Excellent recreational parks, including 7 new pickleball courts.
As seen in New Jersey Monthly:
- A trio of five-bedroom, five-bath, single-family homes under construction on the beach block of South Oxford Street were each recently listed above $2 million.
- A 1,100-square-foot condo on the boardwalk that sold for $202,450 in 2017 went for $405,000 in January 2021 after a complete renovation.
Renovations and new construction are driving prices up in Ventnor.
For latest news about Ventnor Real Estate, contact Sherri Lilienfeld of ApexPrime.com
According to New Jersey Monthly: In June, the median price of 190 Ventnor listings on Realtor.com was $423,000, with 29 properties listed for less than $200,000—unheard-of at much of the Shore.