AC Gaming Revenue May Be Down, But Shore Homes Are Still a Good Bet
The second quarter numbers weren’t kind to Atlantic City, which increasingly has competition from, well, places like Pennsylvania, for example. Last week, writing for the Washington Post, J. Freedom Du Lac called AC’s drop in gaming revenue in the last few years “an epic losing streak.” On the other hand, Du Lac notes, there’s more to do in Atlantic City than ever:
There are more nightclubs, more restaurants, more concerts, more burlesque shows, more shopping, more outdoor activities, more walkable spaces, more stuff...
And all that more translates, it seems: “According to the most recent internal research, positive perceptions of Atlantic City are on the rise.”
As AC struggles to makes its image more diverse–but not too much so–other shore towns battle back from the damage done by Hurricane Sandy. And yet the numbers look good right now: Median sale prices for existing single-family homes in Atlantic, Cape May and Cumberland counties have increased by almost 4 percent. That’s good news for towns like Margate where it seems every other house has a FOR SALE sign–which just as quickly gets stamped with UNDER CONTRACT.
Here are a few homes on the move in the Margate market.
Photos by Laura Kicey.
• South Jersey Shore’s home prices finally on the rise [Atlantic City Press]