Full Year Broad Market Report

Methodology: This is a deep dive into Multi-Family Sales Activity in Atlantic City proper showing details for the last 5 calendar years, inclusive of Duplexes, Triplexes and Larger Multi-Family Residential Apartment buildings.

Total # Listed
128
-14%
168
+31%
156
-7%
183
+17%
150
-18%
YEAR
2013
2014
2015
2016
2017
Total # Sold
35
+6%
34
-3%
48
+41%
62
+29%
75
+21
Median Sale Price
$105,000
-4.5%
$105,000
unch
$72,000
-31.4%
$65,000
-9.7%
$80,000
+23%


Atlantic City Duplex & Triplex Market

Methodology: This is a Five Year look back into Atlantic City's most heavily concentrated Multi-Family segment: Duplexes & Triplexes. The number of total units sold has realized significant and consistent growth over the last 5 year.  Prices has fluctuated based upon the volume and percentage of sale of distressed assets.  Some properties sold have been vacated since prior to the 2012 Super Storm Sandy.

Total # Listed
90
-12.6%
118
+31%
111
-5.9%
136
+22.5%
115
-15.4%
YEAR
2013
2014
2015
2016
2017
Total # Sold
25
unch
26
+4%
40
+53.8%
55
+37.5%
60
+9%
Median Sale Price
$80,000
-22.3%
$93,200
+16.5%
$69,500
-25.2%
$63,525
-8.6%
$70,814
+11.6%


Mid-Sized Multi-Family Buildings with between 4 to 10 Residential Units

Methodology: This is a deep dive into Multi-Family Sales Activity in Atlantic City proper showing details for the last 5 calendar years of Mid-Sized Apartment Buildings with between 4 and 10 total residential units.  This segment showed the most noticable increase and reaction to the renewed investment and excitement for Atlantic City Residential Living with strong increases in both total number of sales together with Median Sale Price year over year for 2016 to 2017.  The segment also realized a sharp decline in number of new listings entering the market as many Atlantic City property owners are choosing to wait for continued appreciation in both sales prices together with an expected gain in median rental prices as new downtown amenities and job creation draw greater demand for beach-city living.

Total # Listed
28
-12.5%
40
+42.9%
35
-12.5%
37
+5.7%
25
-32%
YEAR
2013
2014
2015
2016
2017
Total # Sold
5
unch
6
+20%
7
+16.6%
5
-28.6%
13
+160%
Median Sale Price
$142,500
+14%
$117,500
-17.5%
$155,000
+31.9%
$100,000
-35.5%
$185,000
+85%


Larger Apartment Buildings with 11+ Residential Apartments Units

Methodology:  Larger Apartment Buildings are not in high quantity in Atlantic City and have been the slowest moving segment in recent years due to the economic headwinds that the gaming city has faced.  However, this is in the process of changing as many older buildings has been acquired and redeveloped in recent years and are offering renewed opportunities for residential living for a new and growing demand.  This is a deep dive into the larger scale, 11+ unit Multi-Family segment in Atlantic City proper showing details for the last 5 calendar years.

Total # Listed
9
-30.7%
7
-22.2%
6
-14.3%
8
+33.3%
4
-50%
YEAR
2013
2014
2015
2016
2017
Total # Sold
5
+66.6%
2
-60%
1
-50%
1
unch
0
Median Sale Price
$310,000
+72.3%
$152,500
-51%
$900,000
+490%
$5,000,000
+455%
0