May Market Update

Phenomenal month for sales in Avalon and Stone Harbor, NJ!

salesignA total of 56 properties SOLD in the past 30 days (settlement).  The overall median selling price – $1,085,000.

The largest category:  34 single family homes.  Properties sold ranged from a tear down rancher on the corner of 38th and Ocean Drive for $665,000; to an oversized water front property at the end of Fifth Avenue with a well maintained home and pool for $4,500,000.  The median selling price of all single family homes- $1,615,000.

17 condo/townhouse style units sold, ranging in price from $399,000 for a 2 bedroom unit at the Avalon Condominium; to $1,075,000 for a three level, 5 bedroom townhouse in the beach block.  The median selling price of all condo/townhouse units- $684,000.

2 multi-family sales- a bayside duplex at 39th and Ocean Drive sold for $800,000; and a traditional duplex on 67th Street sold for $1,275,000 (a land value sale- structure already torn down).

2 commercial sales- $165,000 for a nail salon space on Third Avenue in Stone Harbor; and $206,500 for a candy shop space at 33rd and Dune Drive in Avalon.

1 under the vacant lot category (although MANY of the single family homes sold are for land value)- a property on Flamingo Drive sold for $2,550,000.

There are an additional 63 properties sale pending- with a median listing price of $1,525,000.  Final selling prices are posted after settlement.

If you have any questions regarding market values in Avalon or Stone Harbor, I am here to help!

Thank you for your interest and referrals.

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