Is Atlantic City, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Atlantic City was a Seller's Market.
Housing Prices in Atlantic City, NJ
How much do homes in Atlantic City, NJ cost?
Median Sold Price
$225,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Atlantic City was $225,000 in May 2024, up 26.4% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $180K | $180K | 0.0% |
2 Bedrooms | $167.5K | $258.7K | +54.5% |
3 Bedrooms | $168.4K | $220K | +30.6% |
4 Bedrooms | $201K | $247K | +22.9% |
5+ Bedrooms | $365K | $415K | +13.7% |
Summary: Atlantic City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 30.6%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 13.7%.
Median Sold Price Compared To Nearby Cities
Atlantic City | $177.9K | $225K | +26.4% |
Pleasantville | $185K | $225K | +21.6% |
Brigantine | $529K | $595K | +12.5% |
Absecon | $284K | $314.9K | +10.9% |
Ventnor City | $505K | $477.5K | -5.4% |
Housing Supply in Atlantic City, NJ
How many homes are available in Atlantic City, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
238 | 243 | +2.1% |
Summary: The Atlantic City real estate market had 243 homes for sale in May 2024, a 2.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 58 | 56 | -3.4% |
2 Bedrooms | 48 | 50 | +4.2% |
3 Bedrooms | 91 | 93 | +2.2% |
4 Bedrooms | 30 | 29 | -3.3% |
5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Atlantic City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.4%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 33 | -5.7% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Atlantic City in May 2024, down by 5.7% month-over-month. Of the 25 sold homes, 64% were sold under asking, 12% were sold at asking, and 24% were sold over asking.
Days on Market for Atlantic City, NJ
How long does it take to sell a home in Atlantic City, NJ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
51 Days | 56 Days | +10.4% |
Summary: Homes in Atlantic City had an average of 56 days on market in May 2024, up by 10.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 33 homes were sold in Atlantic City; 42% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.