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| JUNE 2025 | |||
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| Zip Code(s): 08402 and 08403 | |||
| Units Sold 20 |
Active Inventory 202 |
Median Sale Price $1,280,000 |
Days On Market 56 |
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| Up 5% Vs. Year Ago |
Up 25% Vs. Year Ago |
Up Vs. Year Ago |
Down -3% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in June, with 20 sold this month in Margate City and Longport Real Estate versus 30 last month, a decrease of 33%. This month's total units sold was higher than at this time last year, an increase of 5% versus June 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 40 units or 25%. The total number of active inventory this June was 202 compared to 162 in June 2024. This month's total of 202 is higher than the previous month's total supply of available inventory of 193, 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 June, the median sale price for Margate City and Longport Homes was $960,000. This June, the median sale price was $1,280,000, an increase of $320,000 compared to last year. The current median sold price is higher than in May. 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 42 |
Current Contracts 15 |
Sold Vs. List Price 93.5% |
Months of Supply 10.1 |
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| Up 11% Vs. Year Ago |
Down -25% Vs. Year Ago |
Down -3.4% Vs. Year Ago |
Up 18% Vs. Year Ago |
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Months of Supply
In June, there was 10.1 months of supply available in Margate City and Longport, compared to 8.5 in June 2024. That is an increase of 18% 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 42 homes newly listed for sale in Margate City and Longport compared to 38 in June 2024, an increase of 11%. There were 15 current contracts pending sale this June compared to 20 a year ago. The number of current contracts is 25% lower than last June. |
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Sale Price to List Price Ratio
In June, the average sale price in Margate City and Longport was 93.5% of the average list price, which is 3.3% lower than at this time last year. Days on Market
This month, the average number of days on market was 56, lower than the average last year, which was 58, a decrease of 3%. | |||
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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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