Belmar March 2020 Market Review

An assessment of the Belmar real estate market based on my research for March 2020 indicated that sixteen homes sold with an average sale price of $774,650. Both the number of homes sold and the average sale price were higher than the previous month. There were 38 total active listings with an average list price of $848,797. These statistics are similar to February despite the growing concerns of COVID-19 increasing mid-month. Among the homes actively listed for sale in March, 24 out of 38 homes were listed above $500,000.

The number of days on the market decreased to 78, which is about a month and a half less than in February. This was significantly shorter than last year when the average days on the market was 138.

Currently, there are 27 homes for sale in Belmar and 10 homes are under contract. For the serious buyers right now, homes are moving fast however there will be less and less inventory as the market continues to be impacted by the pandemic.

This information was obtained through MORR Flex MLS and according to their service, it is deemed reliable but is not guaranteed.