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| JULY 2025 | |||
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| Zip Code(s): 08402 and 08403 | |||
| Units Sold 13 |
Active Inventory 212 |
Median Sale Price $1,650,000 |
Days On Market 72 |
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| Up Vs. Year Ago |
Up 23% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in July, with 13 sold this month in Margate City and Longport Real Estate. This month's total units sold was higher than at this time last year, an increase from July 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 40 units or 23%. The total number of active inventory this July was 212 compared to 172 in July 2024. This month's total of 212 is higher than the previous month's total supply of available inventory of 201, an increase of 5%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last July, the median sale price for Margate City and Longport Homes was $1,250,000. This July, the median sale price was $1,650,000, an increase of $400,000 compared to last year. The current median sold price is higher than in June. 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 56 |
Current Contracts 25 |
Sold Vs. List Price 93.8% |
Months of Supply 16.3 |
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| Up 40% Vs. Year Ago |
Up 32% Vs. Year Ago |
Down -2.5% Vs. Year Ago |
Down -34% Vs. Year Ago |
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Months of Supply
In July, there was 16.3 months of supply available in Margate City and Longport, compared to 24.6 in July 2024. That is a decrease of 34% 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 56 homes newly listed for sale in Margate City and Longport compared to 40 in July 2024, an increase of 40%. There were 25 current contracts pending sale this July compared to 19 a year ago. The number of current contracts is 32% higher than last July. |
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Sale Price to List Price Ratio
In July, the average sale price in Margate City and Longport was 93.8% of the average list price, which is 2.4% lower than at this time last year. Days on Market
This month, the average number of days on market was 72, higher than the average last year, which was 32. This increase was impacted by the limited number of sales. | |||
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Margate City and Longport are defined as properties listed in zip code/s 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. | |||
 Information 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. |
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