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| JUNE 2025 | |||
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| Zip Code(s): 08402 | |||
| Units Sold 16 |
Active Inventory 160 |
Median Sale Price $1,280,000 |
Days On Market 59 |
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| No Change Vs. Year Ago |
Up 26% Vs. Year Ago |
Up Vs. Year Ago |
Up 5% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in June, with 16 sold this month in Margate City Real Estate, a decrease of 41%. This month's total units sold is similar compared to a year ago. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 33 units or 26%. The total number of active inventory this June was 160 compared to 127 in June 2024. This month's total of 160 is higher than the previous month's total supply of available inventory of 153, 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 Homes was $952,500. This June, the median sale price was $1,280,000, an increase of $327,500 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 34 |
Current Contracts 12 |
Sold Vs. List Price 93.5% |
Months of Supply 10.0 |
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| Up 6% Vs. Year Ago |
Down -14% Vs. Year Ago |
Down -3.5% Vs. Year Ago |
Up 26% Vs. Year Ago |
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Months of Supply
In June, there was 10.0 months of supply available in Margate City, compared to 7.9 in June 2024. That is an increase of 26% 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 34 homes newly listed for sale in Margate City compared to 32 in June 2024, an increase of 6%. There were 12 current contracts pending sale this June compared to 14 a year ago. The number of current contracts is 14% lower than last June. |
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Sale Price to List Price Ratio
In June, the average sale price in Margate City was 93.5% of the average list price, which is 3.4% lower than at this time last year. Days on Market
This month, the average number of days on market was 59, higher than the average last year, which was 56, an increase of 5%. | |||
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Margate City are defined as properties listed in zip code/s 08402. | ||
| *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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