Margate is on of my favorite South Jersey Shore beach towns.  I prefer the Ventnor/Margate beaches in the summer because they are not as crowded as Ocean City.  Margate has more year round residents than some of the other shore tows.  Margate is also home to my favorite summer eatery the Margate Dairy & Burger Bar.  So lets take a look at the real estate market for Margate.

Margate City, NJ Real Estate Market Update

For single family homes new listings were down 40% and down 2% year to date.  Closed units were down 20% for the month and 5.5% year to date.  Days on market was just 50 days.  Median sales price was also up 8%.  Inventory of homes for sale is down 9.5%.

For condos and townhomes.  New listing were down slightly.  Closed sales were up 200% for the month and up 2% year to date.  Days on market was up in this category.  Median sales price was up 50% which indicates a few higher priced sales took place.  Median sales price is up 11.8% year to date.  Inventory of condos is down by 11% and months supply of inventory is down to 13 months.

If you or someone you know is looking to buy sell or invest in Margate real estate contact us now.  Inventory is shrinking and prices are on the rise.  This makes it a great time to sell and also a great time to buy before prices increase further.

Best wishes, Matt