MARGATE CITY, VENTNOR CITY, AND LONGPORT HOUSING MARKET DATA

There was a decrease in total units sold in April, with 28 sold this month in Margate City, Ventnor City, and Longport Real Estate versus 29 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 20% versus April 2024.

Versus last year, the total number of homes available this month is higher by 84 units or 29%. The total number of active inventory this April was 378 compared to 294 in April 2024. This month's total of 378 is lower than the previous month's total supply of available inventory of 380, a decrease of 1%.

Last April, the median sale price for Margate City, Ventnor City, and Longport Homes was $819,000. This April, the median sale price was $710,000, a decrease of 13% or $109,000 compared to last year. The current median sold price is 11% lower than in March.

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

In April, there was 13.5 months of supply available in Margate City, Ventnor City, and Longport, compared to 8.4 in April 2024. That is an increase 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 66 homes newly listed for sale in Margate City, Ventnor City, and Longport compared to 47 in April 2024, an increase of 40%. There were 40 current contracts pending sale this April compared to 35 a year ago. The number of current contracts is 14% higher than last April.

In April, the average sale price in Margate City, Ventnor City, and Longport was 96.4% of the average list price, which is 1.1% lower than at this time last year.

This month, the average number of days on market was 58, higher than the average last year, which was 43, an increase of 35%.





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

Zip Code(s): 08406, 08402 and 08403
Units Sold 28	Active Inventory 378	Median Sale Price $710,000	Days On Market 58

Down -20% Vs. Year Ago	Up 29% Vs. Year Ago	Down -13% Vs. Year Ago	Up 35% Vs. Year Ago


		Units Sold There was a decrease in total units sold in April, with 28 sold this month in Margate City, Ventnor City, and Longport Real Estate versus 29 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 20% versus April 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 84 units or 29%. The total number of active inventory this April was 378 compared to 294 in April 2024. This month's total of 378 is lower than the previous month's total supply of available inventory of 380, a decrease of 1%.
		Median Sale Price Last April, the median sale price for Margate City, Ventnor City, and Longport Homes was $819,000. This April, the median sale price was $710,000, a decrease of 13% or $109,000 compared to last year. The current median sold price is 11% lower than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 66	Current Contracts 40	Sold Vs. List Price 96.4%	Months of Supply 13.5

Up 40% Vs. Year Ago	Up 14% Vs. Year Ago	Down -1.1% Vs. Year Ago	Up Vs. Year Ago


		Months of Supply In April, there was 13.5 months of supply available in Margate City, Ventnor City, and Longport, compared to 8.4 in April 2024. That is an increase 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 66 homes newly listed for sale in Margate City, Ventnor City, and Longport compared to 47 in April 2024, an increase of 40%. There were 40 current contracts pending sale this April compared to 35 a year ago. The number of current contracts is 14% higher than last April.
		Sale Price to List Price Ratio In April, the average sale price in Margate City, Ventnor City, and Longport was 96.4% of the average list price, which is 1.1% lower than at this time last year. Days on Market This month, the average number of days on market was 58, higher than the average last year, which was 43, an increase of 35%.


	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.