Is Atlantic City, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Atlantic City is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Atlantic City was a Seller's Market.

Key Takeaway

Atlantic City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Atlantic City, NJ

How much do homes in Atlantic City, NJ cost?

Median Sold Price

$220,000

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$51,033(+30.2%)

Key Takeaway

Homes in Atlantic City have sold for 30.2% more than they did a year ago.

Summary: The median home sold price in Atlantic City was $220,000 in February 2024, up 30.2% from last year, and the median price per square foot was $196.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $167.5K$180K
+7.5%
2 $165K$250K
+51.5%
3 $155K$218K
+40.6%
4 $201K$240K
+19.4%
5+ $370K$445K
+20.3%

Summary: Atlantic City housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 51.5%, 3 bedroom homes increased by 40.6%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes increased by 20.3%.

Median Sold Price Compared To Nearby Cities

Atlantic City
+30.2%
Ventnor City
+8.4%
Pleasantville
+7.8%
Brigantine
+7.5%
Absecon
+3.0%

Housing Supply in Atlantic City, NJ

How many homes are available in Atlantic City, NJ?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
237260+9.7%

Summary: The Atlantic City real estate market had 260 homes for sale in February 2024, a 9.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 4961
+24.5%
2 4452
+18.2%
3 9995
-4.0%
4 3237
+15.6%
5+ 1315
+15.4%

Summary: The Atlantic City housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 24.5%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 15.4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2128+33.3%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Atlantic City, you may be able to get a good deal. 76.5% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in Atlantic City in February 2024, up by 33.3% month-over-month. Of the 17 sold homes, 76% were sold under asking, 18% were sold at asking, and 6% 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

Feb 2023Feb 2024CHANGE
88 Days68 Days-22.8%

Summary: Homes in Atlantic City had an average of 68 days on market in Feb 2024, down by 22.8% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Atlantic City are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 28 homes were sold in Atlantic City; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Atlantic City, NJ

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