Belmar Real Estate Market Booms Amid Limited Inventory and High Demand

BELMAR, NJ – The real estate market in Belmar has been experiencing an unprecedented surge in activity, driven by a combination of limited inventory and high demand. Homeowners are taking advantage of the robust market conditions to sell their properties at record prices, while buyers face intense competition for the few homes available.

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A Seller’s Market: Homeowners Reaping Rewards

Frank DiNatale, a homeowner in Belmar, is someone capitalizing on the current market conditions. DiNatale is selling his home on 4th Avenue for $3.5 million , a significant return on his investment. “I think with nothing available on the market right now, we're going to have the greatest chance to have the most reward for our investment, and hopefully retire a little more comfortably than we originally expected,” DiNatale said.

DiNatale, who is also a builder, poured his heart and soul into the property. “Our goal was always to have a beach house, but as a builder, I took it to the extreme. We decided the year before Sandy to make a move down here, and I put my heart and soul into the house,” he explained. Despite the emotional attachment to the home, DiNatale and his family decided it was the right time to sell. “We made the decision to move because we're going to have a big reward since there's not much out there on the market. We’ll be rewarded for the amount of work we've done on the home.”

DiNatale’s home is a testament to his craftsmanship, featuring exquisite kitchen and bathrooms, radiant heat throughout, and high-quality materials that minimize maintenance. “The house has radiant heat throughout, all copper piping, and many other features. The maintenance is not required, especially living so close to the shore, so I know the money I spent to build the place is justified,” he said.

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Brian Church, a Broker Associate with Berkshire Hathaway Home Services, Fox and Roach Realtors, has observed the transformation of Belmar’s real estate market over the years. “It's a great town in every way. Obviously, the only downside is that now, for some people, it's not as affordable as it used to be,” Church noted. He emphasized the importance of strategic pricing for sellers to attract the largest pool of potential buyers. “If you price your house at its true value, you'll attract the largest universe of potential buyers. Right now, the largest universe gets you the highest number.”

Church highlighted the dramatic increase in property values in Belmar. “The median price in Belmar has gone up dramatically over the last two years. It was $632,000 in 2023, and it went up to $1,012,000 in 2024. That's a pretty dramatic increase,” he said. This increase is partly due to the influx of new construction, which tends to be more expensive.

For homeowners like Loretta Hill, the decision to sell is driven by practical considerations. Hill, who has lived in Belmar since 1967, is selling her home and plans to spend more time in Florida. “I love my house in Belmar, but it's a lot for me to maintain for just the summer and holidays,” she said. Hill’s property received multiple offers within days of being listed. “We were really only open on the market for about five days when I had seven offers,” she noted.

A Tough Market for Buyers

While sellers are enjoying the benefits of a hot market, buyers are facing significant challenges. Church explained that the market conditions heavily favor sellers. “If you speak to a seller, they're going to talk about the house they put on the market that had 25 showings in three days and four offers, and it went for 10% more than full price. If you're a buyer, they're going to talk about the 10 they were in, where they were unsuccessful,” he said.

The limited inventory is a major hurdle for buyers. “Belmar's inventory is actually going down over a period of time, and that's not something that is going to attract more new buyers, because there needs to be product for them to buy,” Church explained. He pointed out that the average home in Belmar sells in just 13 days, often above the asking price. “Your average home that goes on the market sells in 13 days in Belmar, and it sells for 102% of its asking price. Those are difficult numbers to look at if you were a buyer.”

For buyers coming from outside areas where the real estate market is not as strong, the challenges are even greater. “If you're coming from a town where the market is not doing as well, you hope that you've saved some money and you've got some equity built up to be able to buy. But you have to find that property,” Church said.

Despite the challenges, Church remains optimistic about the future of Belmar’s real estate market. “Over the course of the next five years, I think we're okay. Even if everything took a downturn today, we probably still wouldn't work our way through all the potential buyers who want to buy something for another year or two,” he said.

The robust real estate market in Belmar reflects a broader trend of increasing property values along the coast. Church believes that Belmar’s unique combination of features makes it particularly attractive. “Belmar has held its own. It has raised up Bradley Beach because 20-25 years ago it was much more difficult to sell a property for the numbers that we're talking about now,” he said.

As homeowners like DiNatale and Hill prepare to move on to new chapters in their lives, they do so with the satisfaction of knowing that their investments have paid off. For buyers, the quest to find a home in Belmar continues to be a challenging yet rewarding endeavor.

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