Market Update

In the past 30 days, 44 properties SOLD in Avalon and Stone Harbor, with the median selling price of $987,000.

Of those, 22 were single family homes, ranging from $460,000 for a cottage on an undersized lot on 22nd Street in Avalon; to $5,300,000 for an older ocean front home on 107th Street in Stone Harbor.  The median selling price for all single family homes: $2,085,000.

19 of the sales were for condo/townhouses, ranging from $287,000 for a motel/condo unit at the Concord; to $1,397,000 for a bay front townhouse style unit on 80th Street.  The median selling price for all condo/townhouse units: $600,000.

2 sales were classified as multi-family. An older duplex on 27th Street sold for $1,299,000 and was immediately torn down. The lot is zoned single family, so a new home will be built on the site.  The other was a pair of side by side townhouses on 28th Street sold together for $1,565,000.

1  commercial sale posted- the space on 21st and Dune occupied by Fuze Italian sold for $1,200,000.

In addition, there are 76 properties “under contract” with settlements scheduled in the near future.  The median price of those sale pending is $1,845,500.

Trends?  New construction continues to be very popular.  Many of the residential sales noted above were “land value” sales purchased with the intent to build new on the site.

If you have any questions regarding market values in Avalon or Stone Harbor, I am happy to help!  ann.delaney@timkerrsir.com  609-967-7950