Market Stats

  January 1st through today:   49 properties posted as sold or under contract in the Cape May County Multiple Listing Service for Avalon and Stone Harbor.   16 of those are the converted condos  at 79th and Dune Drive called Ocean View (selling $350,000 to $400,000 range).  The highest price for a sale pending is $5 million.  The  average is $1,085,000.

Interest rates continue to be in the 5% range for conforming loans; 6% for loans over $417,000.   Just like the “old days”,  lenders want to see income to qualify for the loan,  and good credit- what a concept!

If you are interested in purchasing a summer home, send me an e-mail with your wish list.   You might be pleasantly surprised with the options available.

I appreciate the opportunity to help  🙂