With all the uncertainty in the financial markets, we have seen an uptick in sales activity here on the island and a strong finish to the summer. We are starting to see families moving their money from the stock market to the real estate market at the shore. Solid investment, family use and happiness seem to be the thought process of many buyer’s right now. In September, there was 25 pending home sales on the island. Solid numbers from both towns as Avalon had 16 and Stone Harbor had 9. Again, inventory over a million is outselling listings priced under a million. We even had one property sell this month over $12 Million (Click Here To View Property) . Interest rate levels continue to stay at historic lows. Low interest rates coupled with aggressively priced properties (even in this market) have created some excellent buying opportunities for families.
Total inventory has dropped to 570, partially because many listing expired within the last week. Most likely they will be back on the market in another week. So, relatively speaking, inventory remains the same as last month. This is not a bad sign; usually we see an uptick in inventory levels after the Labor Day Weekend. I will continue to monitor inventory levels.
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: www.RyanVince.com
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The Fall rental season is upon us, if you are looking for a getaway at Thanksgiving or New Years please contact me. Start your searches now on http://www.ryanvince.com or call me direct at 609.602.0025. You can also email me at firstname.lastname@example.org for a full list of possible rentals.
Owners: 2012 Rental Authorization forms are out. Please make any necessary changes, sign, and send back in so we can start marketing your properties. Thanks to those of you who have already returned your form. Thanks in Advance.
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