$10,000 Closing Credit*
$2,450,000
3,500 SqFt
5 Beds
•5 Full Baths, 1 Partial
Listing Office: BHHS FOX and ROACH-Margate
Is Margate City, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Margate City has remained a Seller's Market.
Key Takeaway
Margate City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Margate City, NJ
How much do homes in Margate City, NJ cost?
Median Sold Price
$860,000
$582/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$117,750(+15.9%)
Key Takeaway
Homes in Margate City have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Margate City was $860,000 in October 2024, up 15.9% from last year, and the median price per square foot was $582.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $396K | $340K | -14.1% |
| 2 Bedrooms | $500K | $695K | +39.0% |
| 3 Bedrooms | $910K | $910K | 0.0% |
| 4 Bedrooms | $1.1M | $995K | -9.5% |
| 5+ Bedrooms | $1.7M | $2.2M | +26.0% |
Summary: Margate City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.1%, 2 bedroom homes increased by 39%, 3 bedroom homes did not change, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 26%.
Median Sold Price Compared To Nearby Cities
| Margate City | $742.2K | $860K | +15.9% |
| Ventnor City | $377.5K | $435K | +15.2% |
| Egg Harbor Township | $315.9K | $345K | +9.2% |
Housing Supply in Margate City, NJ
How many homes are available in Margate City, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 112 | 108 | -3.6% |
Summary: The Margate City real estate market had 108 homes for sale in October 2024, a 3.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 20 | +42.9% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 21 | 17 | -19.0% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 48 | 41 | -14.6% |
Summary: The Margate City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.9%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 19%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 14.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 29 | +52.6% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Margate City, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Margate City in October 2024, up by 52.6% month-over-month. Of the 21 sold homes, 71% were sold under asking, 10% were sold at asking, and 19% were sold over asking.
Days on Market for Margate City, NJ
How long does it take to sell a home in Margate City, NJ?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 41 Days | +16.8% |
Summary: Homes in Margate City had an average of 41 days on market in Oct 2024, up by 16.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Margate City are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in Margate City; 55% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 17% 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.