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 🙂
How Did I Get Here?
While raising their family and living in Philadelphia, they spent summer vacations in Stone Harbor (I have a picture in my office of the family in front of one of their rental cottages- my father looks about 8 years old- ironically in a house literally behind my current home).Â
In the late 1950’s, my grandparents built a home in Avalon and moved here full time. My parents followed in 1963 (with babies in tow).  We lived in the high dune area of Avalon- which was a bit more desolate than today.  The beach and the dunes were our backyard play areas!
My grandfather loved the area- I think the ocean and damp weather reminded him of home. After visiting Ireland last spring, I can see the similarities (although no sheep on Ocean Drive…just an occasional turtle).Â
Happy Saint Patrick’s Day!