Belmar February 2020 Market Review
Updated: Mar 20, 2020
Based on my Belmar market research for February 2020, there were 34 active listings with an average list price of $874,741. The increase in listings from last month was to be expected as we move into the spring market. The majority of homes for sale in this popular shore town were listed above $500,000.
Seven homes sold in February at the average sale price of $559,286 which was an increase from January’s average sale price of $466,942. The number of days on the market went up to 118. This was longer than last year, when the average days on the market was 99. However, there was more inventory last year at this time with 42 active listings in February 2019. We are currently seeing this trend in real estate with less inventory available in areas by the shore.
Currently, there are 30 homes for sale in Belmar and 15 homes are under contract. A third of these homes are priced above $1,000,000.
Belmar is a beautiful area that has now become more of a year-round community for residents instead of simply a popular tourist destination for beach lovers.
This information was obtained through MORR Flex MLS and according to their service, it is deemed reliable but is not guaranteed.