High Demand, Limited Supply Driving Up Prices in Belmar’s Robust Real Estate Market


BELMAR, NJ — The Belmar real estate market has been very active lately. Some of my recent listings in town had multiple offers, sold well over their asking prices and set new records.

With limited supply of homes and high demand from buyers, it may be a great time to sell. Turnkey properties are achieving top-dollar results, and many buyers are paying premiums for properties that have views, pools or room for putting in a pool.

Even the homes that need major work are selling for knockdowns or major overhauls for buyers to build exactly what they want for their dream home. Many of these buyers are getting competitive in the bidding war scenarios, and a lot of them are submitting cash offers with flexible terms to make the sellers happy.

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The year-over-year trends from January 1 to April 27 below illustrate the strength of the current market. 

Active listings dropped by 13.46%, compared to the first four months of 2020.

 

New listings to the Belmar market have remained stable in a year-to-year comparison.

 

The volume of homes sold climbed 14.09% during the first four months of 2021, compared to 2020.

 

From 2020 to 2021, the total number of homes under contract increased by 26.09% for the first four months of this year.

 

While the volume of homes sold rose 14.09%, the actual number of homes sold remained the same, year over year.

 

Mirroring the volume of homes sold, the average sales price also increased by 14.09% in Belmar in a year-to-year comparison.

 

From January to April year over year, there was slight decrease of 2.67% in the median sales price of homes sold in Belmar.

 

About the Author

2020 was a record year for Eddie Szumski in assisting buyers and sellers at the Jersey Shore, selling 33 homes for over $29,000,000 in closed volume sales. As of the end of April this year, he has more than $9,000,000 sold and more than $10,000,000 under contract in 2021 alone.   

If you are looking to buy or sell and looking for the best results, call Eddie directly at 732-859-3751 or email him at readywitheddie@gmail.com. He would be more than happy to go over the most recent changes, discuss your goals and work with you to develop a strategic marketing plan. You can also visit his website at www.ReadyWithEddie.com.

Information is deemed to be reliable, but is not guaranteed. © 2021 MLS and FBS. Prepared by Edward James Szumski on April 27.

 

 

 





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