Posted by: Drew | March 16, 2008

Seven Mile Beach Shore Report

Real Estate Market Report for Mid March 2008

Well the first quarter is quickly closing and the spring is approaching.
These figures cover the following areas.
Avalon, Avalon Manor, Stone Harbor, Stone Harbor Manor, Sea Isle City, Strathmere

Over all there are 404 properties on the market with a combined value of $870.25 million dollars. The average price is $2,154,174 with 223 days on the market.Avalon Bayfront

What’s Selling?
Since January 1st 2008 30 properties have settled and another 24 are under contract. Note that the largest sale was a 10.5 million dollar sale in Stone Harbor from Avalon Real Estate Agency. This number truly gave Stone Harbor a boost in the average price as seen below. The market is still moving and the better deals only last on the market for several days, like the 62nd street property that was on the market for 11 days and sold at a full price offer of over 3 Million.

No. of Listings
Dollar Volume
Average Price
Avalon 20 $30,701,000 $1,535,050
Sea Isle City 2 $2,513,000 $1,256,500
Stone Harbor 8 $22,582,667 $2,822,830
Total 30 $55,796,667 $1,859,889

Thanks to the fine folks at the Best Of The Shore for the market report.

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