Much is happening in our beloved Ventnor. We think all this new activity will ultimately have a positive impact on both residential and commercial property values.
On one side, the relative stabilization of Atlantic City’s finances has helped. Stockton’s new AC Campus & SJ Gas provides a nice visual to those entering this portion of Absecon Ave. On the other side of Ventnor, the city of Margate continues it’s aggressive home construction efforts. With Ventnor in the middle, we get to enjoy the benefits of this prime location.
Ventnor Real Estate market poised for more growth.
The Ventnor boardwalk, one of the most popular and prominent features of this Jersey shore community. And yes, there’s been a surge in new construction along this wooden way. Coming soon: The Ventnor Fishing Pier will soon feature a new restroom facility.
Over the past few months, lot’s of transformation. New streetscapes being built within the Ventnor North Beach business district.
Restoration and upgrading of neglected commercial and residential properties in Ventnor.
Last year, the former Ventnor Twin Theater (shuttered for 15 years) was finally purchased. It’s currently being renovated into a new state of the art theater, complete with restaurant and liquor license.
Ventnor welcomes the new Dunkin at the corner of Portland & Ventnor Ave.
Also coming soon is Santucci’s, the original square pizza eatery at 6411 Ventnor Ave, former home to Arrow Hardware.
In addition to delicious pizza, the new Santucci’s restaurant will have a full bar and a roof-top deck.
In addition to the investments and improvements being made to much of the commercial space in Ventnor, there’s also been significant upgrading of residential properties in Ventnor.
Aside from the many prominent properties you can see being rebuilt along the boardwalk, many of the side and back streets are now being rebuilt.
Just drive down Monmouth Ave and you can see plenty of new construction along the bay. Then explore some of the cross streets and you will notice new construction and/or recently renovated properties. The synergistic effect of the investments and improvements of both commercial and residential properties will greatly help current and future property values in the area.
Keep in mind: there’s usually a bit of a lag when tracking the increase of property values.
According to the South Jersey Regional MLS, the average price of a 3 bedroom house from 2017 to 2018, remained stable at $240,150. The average days on market was 74.
There was a jump in 1 BR condos from $124,658 to $149,368. That’s a 20% increase in price, year over year.
Average days-on-market (DOM) dropped 42%, from 120 to 69 days. Yes, the condo market is really picking up and moving. The residential market will soon follow.
Considering an investment in a Jersey shore home? We think you should consider Ventnor. Beach, boardwalk, restaurants, entertainment, retail. 5 minutes from the excitement of Atlantic City casinos.
Call or email me, Sherri Lilienfeld. I can help. Sherri@apexprime.com