Spring Sale Market

The shore real estate market is VERY active- amazing to see the daily “Under Contract” postings in our Multiple Listing Service.

During the past 30 days, 26 properties sold (settlement) in Avalon and Stone Harbor ; plus, an additional 55 properties are sale pending with settlements scheduled over the next few months.

The median selling price was $847,500, with a low of $169,000 for a Beachcomber Condo/Motel; and a high of $2,400,000 for a newer bay front home on Yacht Club Drive (7th Street).

Of those sale pending, the median list price is $1,090,000.  The low of $179,000 for another Beachcomber Condo/Motel; and a high of $3,950,000 for an oversized bay front “lot” at the end of Pelican Drive (plus the older structure sold “as is”).  Final selling prices are not published until after settlement.

Property values are recovering- especially in prime locations. And the interest rates remain at an all time low.  All positive signs for a healthy real estate market on the island.