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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Margate City is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Margate City has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Margate City, NJ

How much do homes in Margate City, NJ cost?

Median Sold Price

$900,000

$595/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$160,000(+21.6%)

Key Takeaway

Homes in Margate City have sold for 21.6% more than they did a year ago.

Summary: The median home sold price in Margate City was $900,000 in November 2024, up 21.6% from last year, and the median price per square foot was $595.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $392.5K$332.4K
-15.3%
2 $500K$575K
+15.0%
3 $910K$910K
0.0%
4 $1.1M$1.0M
-5.7%
5+ $1.7M$2.3M
+32.6%

Summary: Margate City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.3%, 2 bedroom homes increased by 15%, 3 bedroom homes did not change, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 32.6%.

Median Sold Price Compared To Nearby Cities

Margate City
+21.6%
Ventnor City
+17.9%
Egg Harbor Township
+6.0%

Housing Supply in Margate City, NJ

How many homes are available in Margate City, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10397-5.8%

Summary: The Margate City real estate market had 97 homes for sale in November 2024, a 5.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1715
-11.8%
2 1211
-8.3%
3 1816
-11.1%
4 1516
+6.7%
5+ 4139
-4.9%

Summary: The Margate City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.8%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 4.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2613-50.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Margate City, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Margate City in November 2024, down by 50.0% month-over-month. Of the 12 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% 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

Nov 2023Nov 2024CHANGE
26 Days21 Days-15.7%

Summary: Homes in Margate City had an average of 21 days on market in Nov 2024, down by 15.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 13 homes were sold in Margate City; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

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