Is Ventnor City, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ventnor City has remained a Seller's Market.
Key Takeaway
Ventnor City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ventnor City, NJ
How much do homes in Ventnor City, NJ cost?
Median Sold Price
$477,500
$352/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ventnor City have sold for 5.4% less than they did a year ago.
Summary: The median home sold price in Ventnor City was $477,500 in May 2024, down 5.4% from last year, and the median price per square foot was $352.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $272.5K | -6.0% |
| 2 Bedrooms | $275K | $325K | +18.2% |
| 3 Bedrooms | $505K | $500K | -1.0% |
| 4 Bedrooms | $764K | $857K | +12.2% |
| 5+ Bedrooms | $1.0M | $1.2M | +16.0% |
Summary: Ventnor City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 16%.
Median Sold Price Compared To Nearby Cities
| Atlantic City | $177.9K | $225K | +26.4% |
| Margate City | $825K | $956.5K | +15.9% |
| Ventnor City | $505K | $477.5K | -5.4% |
Housing Supply in Ventnor City, NJ
How many homes are available in Ventnor City, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 96 | 90 | -6.3% |
Summary: The Ventnor City real estate market had 90 homes for sale in May 2024, a 6.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 17 | 0.0% |
| 2 Bedrooms | 22 | 20 | -9.1% |
| 3 Bedrooms | 22 | 18 | -18.2% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 27 | 28 | +3.7% |
Summary: The Ventnor City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 29 | +70.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ventnor City, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Ventnor City in May 2024, up by 70.6% month-over-month. Of the 19 sold homes, 68% were sold under asking, 16% were sold at asking, and 16% were sold over asking.
Days on Market for Ventnor City, NJ
How long does it take to sell a home in Ventnor City, NJ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 60 Days | 41 Days | -31.5% |
Summary: Homes in Ventnor City had an average of 41 days on market in May 2024, down by 31.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ventnor City has remained consistent over time.
Summary: During May 2024, 29 homes were sold in Ventnor City; 41% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.