Belmar May 2020 Market Review

After analyzing the data for May, my assessment of the Belmar real estate market indicated that four homes sold with an average sale price of $548,125. Both the number of homes sold as well as the average sale price decreased from April. There were 39 total active listings with an average list price of $895,100. These statistics remained similar to both March and April which could be attributed to the uncertainty that COVID-19 created for the economy. The majority the homes actively listed for sale were above $500,000, with the data showing 28 out of 39 in this higher price range.

The number of days on the market increased slightly to 51 from the 44 in April. This is not much different than last year when the average days on the market was 48. It is reassuring to see this aspect of activity has not changed much despite the pandemic.

Currently, there are 28 homes for sale in Belmar and 20 homes are under contract. For buyers right now, homes are moving as fast as they were before the pandemic. With low interest rates and generally low inventory, it is arguably a great time to get involved in the homebuying or selling process.

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