We remain in line with last month’s data as July has 14 properties under contract in Avalon and 2 properties under contract in August. The average list price was $1,631,921 in Avalon and $2,197,000 in Stone Harbor. With depleted inventory under a million, we are starting to see activity in other price ranges. Just 3 of the 16 properties that went under agreement this past month were under 1 million dollars. There remains clear cut buys in each price range with the properties most competitively priced selling the quickest. It is clear the majority of our buyers are purchasing property as a long-term investment and lifestyle choice for their family.
1st Half of the year Highlights:
* 158 properties sold, up 52% over the same period last year
* Average sale price was $1,277,927, up 3.4% over last year
* 93 were sold under $1,000,000 this year, up 79% over last year.
Over the month of July there was a total of 4 properties added to our total island inventory bringing the number of active listings on the market to 589. Sale activity has been steady, but we would like to see an increase in the number of transactions, a decrease in total inventory, to be more in line with a healthier market. I will continue to monitor inventory levels. Activity is definitely up which is great, but inventory levels need to continue their downward trend. This is a telling sign on the stability of our market.
Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ. The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family. We are still seeing lifetime low interest rates. Please visit my website:http://www.ryanvince.com
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For the third year in a row we have ZERO availability for the weeks of 7/30 and 8/6. This is a disappointment for all those last minute renters trying to work a deal. Premium summer weeks continue to deliver for property owners. The shift to Fall rentals is upon us, if you are looking to for a getaway please contact me. Start your searches now on http://www.ryanvince.comor call me direct at 609.602.0025. You can also email me at email@example.com for a full list of possible rentals.