MARGATE CITY, VENTNOR CITY, AND LONGPORT HOUSING MARKET DATA

There was an increase in total units sold in May, with 41 sold this month in Margate City, Ventnor City, and Longport Real Estate versus 31 last month, an increase of 32%. This month's total units sold was lower than at this time last year, a decrease of 2% versus May 2024.

Versus last year, the total number of homes available this month is higher by 77 units or 26%. The total number of active inventory this May was 376 compared to 299 in May 2024. This month's total of 376 is lower than the previous month's total supply of available inventory of 380, a decrease of 1%.

Last May, the median sale price for Margate City, Ventnor City, and Longport Homes was $717,500. This May, the median sale price was $990,000, an increase of $272,500 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.

In May, there was 9.2 months of supply available in Margate City, Ventnor City, and Longport, compared to 7.1 in May 2024. That is an increase of 29% 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.

This month there were 77 homes newly listed for sale in Margate City, Ventnor City, and Longport compared to 53 in May 2024, an increase of 45%. There were 32 current contracts pending sale this May compared to 27 a year ago. The number of current contracts is 19% higher than last May.

In May, the average sale price in Margate City, Ventnor City, and Longport was 93.2% of the average list price, which is 2.5% lower than at this time last year.

This month, the average number of days on market was 64, higher than the average last year, which was 51, an increase of 25%.





FOCUS ON: MARGATE CITY, VENTNOR CITY, AND LONGPORT HOUSING MARKET			MAY 2025

Zip Code(s): 08406, 08402 and 08403
Units Sold 41	Active Inventory 376	Median Sale Price $990,000	Days On Market 64

Down -2% Vs. Year Ago	Up 26% Vs. Year Ago	Up Vs. Year Ago	Up 25% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 41 sold this month in Margate City, Ventnor City, and Longport Real Estate versus 31 last month, an increase of 32%. This month's total units sold was lower than at this time last year, a decrease of 2% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 77 units or 26%. The total number of active inventory this May was 376 compared to 299 in May 2024. This month's total of 376 is lower than the previous month's total supply of available inventory of 380, a decrease of 1%.
		Median Sale Price Last May, the median sale price for Margate City, Ventnor City, and Longport Homes was $717,500. This May, the median sale price was $990,000, an increase of $272,500 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.



New Listings 77	Current Contracts 32	Sold Vs. List Price 93.2%	Months of Supply 9.2

Up 45% Vs. Year Ago	Up 19% Vs. Year Ago	Down -2.7% Vs. Year Ago	Up 29% Vs. Year Ago


		Months of Supply In May, there was 9.2 months of supply available in Margate City, Ventnor City, and Longport, compared to 7.1 in May 2024. That is an increase of 29% 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.
New Listings & Current Contracts This month there were 77 homes newly listed for sale in Margate City, Ventnor City, and Longport compared to 53 in May 2024, an increase of 45%. There were 32 current contracts pending sale this May compared to 27 a year ago. The number of current contracts is 19% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Margate City, Ventnor City, and Longport was 93.2% of the average list price, which is 2.5% lower than at this time last year. Days on Market This month, the average number of days on market was 64, higher than the average last year, which was 51, an increase of 25%.


	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.
	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.