The Long & Foster Market Minute
Focus On: Margate City, Ventnor City, and Longport Housing Market May 2017
Zip Code(s): 08406, 08402 and 08403
Units Sold
68
Active Inventory
872
Median Sale Price
$417,500
Days On Market
105
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -7%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -1%
Vs. Year Ago
Units Sold
There was an increase in total units sold in May, with 68 sold this month in Margate City, Ventnor City, and Longport Real Estate. This month's total units sold was lower than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 4%. The total number of active inventory this May was 872 compared to 912 in May 2016. This month's supply remained stable as compared to last month.

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Median Sale Price
Last May, the median sale price for Margate City, Ventnor City, and Longport Homes was $340,000. This May, the median sale price was $417,500, an increase of $77,500 compared to last year. The current median sold price is higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
153
Current Contracts
67
Sold Vs. List Price
92.1%
Months of Supply
12.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -2%
Vs. Year Ago
Up 24%
Vs. Year Ago
No Change
Vs. Year Ago
Up 3%
Vs. Year Ago
Months of Supply
In May, there was 12.8 months of supply available in Margate City, Ventnor City, and Longport, compared to 12.5 in May 2016. That is an increase of 3% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 153 homes newly listed for sale in Margate City, Ventnor City, and Longport compared to 156 in May 2016, a decrease of 2%. There were 67 current contracts pending sale this May compared to 54 a year ago. The number of current contracts is 24% higher than last May.

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Sale Price to List Price Ratio
In May, the average sale price in Margate City, Ventnor City, and Longport was 92.1% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 105, lower than the average last year, which was 106, a decrease of 1%.

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Margate City, Ventnor City, and Longport are defined as properties listed in zip code/s 08406, 08402 and 08403.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by SJSMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of SJSMLS or Long & Foster Real Estate, Inc.