One of the best kept secrets on the Atlantic Coast, Margate is a beautiful, beachside residential community located in Atlantic County on Absecon Island. It is situated just south of Atlantic City between Ventnor City and Longport along Highway 109. Margate City overlooks the banks of the Great Egg Harbor River.
More than 11,000 residents are happy to call the Margate City community home. Residents enjoy beautiful and safe beaches, a fishing pier, extensive recreational facilities, a wide variety of cultural events and an excellent selection of real estate. Margate City offers a mix of restaurants, nightclubs, shops and attractions for residents and tourists of all ages. Washington Avenue has long been a popular spot for nightlife.
Margate City Real Estate Market: Prices of Margate City Homes for Sale
The Margate City real estate market offers a wide variety of choices to fit everyone's needs. One-bedroom condominiums and townhouses can be found starting at around $200,000. Newer beachside units are priced from as high as $800,000. Single homes for sale start at $350,000. Large estate beachfront properties or homes with ocean views overlooking the Atlantic Ocean can be purchased at the higher end and range up to about $5 million.
Margate City Real Estate Stats and Trends for the week of April 21st, 2020: homes priced around $433,525 compared to $735,434 the previous week, showing a decrease of less than -70%. For Tuesday, April 21st, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.