Category: Avalon, New Jersey- News

I’m hearing from several property owners regarding the letter from the Borough of Avalon with an updated tax assessment.

Stone Harbor property owners should expect a similar notification this winter.

Both municipalities are required to maintain property assessments within a reasonable percentage of fair market value.

Periodic reassessments allow the tax assessor to review all property data (recent sales) and make adjustments.

All assessments are broken down in 2 parts: the value of the land and the value of the improvement (structure).  The land value is consistent on a particular block (unless the lot size is different).

The boom of new construction is also big boost to our rateables.  The 2018 tax rate is expected to be lower based on these new figures- a benefit for all of us.

If you have any questions regarding the market value of your Avalon or Stone Harbor home, I am happy to help.

ann.delaney@timkerrsir.com  609-967-7950

A total of 33 properties SOLD during the month of November.  The overall median selling price was $895,000.

Break down by category:

16 condo/townhouse units- ranging from $320,000 for a 1 bedroom unit at the Merrimack on 80th Street in Avalon; to $1,995,000 for a new 5 bedroom (with a pool) side by side style unit on the bay at 24th Street.  The median selling price of all condo/townhouse style units:  $640,000.

10 single family homes– ranging from $875,000 for a completely renovated cottage in the 300 block of 20th Street; to $3,250,000 for a 2nd from the beach home built in 2000 located on 113th Street, Stone Harbor.  The median selling price of all single family homes- $1,800,000.

4 multi-family sales- ranging from $700,000 for an older 2 unit property on 110th and Third Avenue, Stone Harbor on an under sized lot; to $1,100,000 for a more traditional duplex on 34th Street sold for land value to a builder (the lot is zoned for 2 units. Structure torn down and new side by side units to be built).  The median selling price for all multi-family properties- $905,000.

2 vacant lots– a 50′ X 130′ bay lot on 7th Street sold for $1,830,000; and a 60′ X 110′ corner lot on the beach side of 33rd and First Avenue sold for $2,000,000.

1 commercial sale- a store front on 21st and Dune Drive sold for $390,000.

There are an additional 54 properties under contract, with settlements scheduled for the near future.  The overall median list price of those sale pending - $1,722,450 (the final selling price is posted after settlement).

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

Thank you for your interest.  ann.delaney@timkerrsir.com  609-967-7950

Are you ready for next summer?

Tenants are starting to inquire for 2018, and if they search our web site, only those with set rates will return on the search.

Please contact me to discuss rental rates and availability of your shore property.

As a reminder, we are expanding our island coverage with the new Tim Kerr Sotheby’s International Realty office on 96th Street, Stone Harbor!

Two locations to serve owners and tenants:

2821 Dune Drive, Avalon         and         231 96th Street, Stone Harbor