Saturday, February 11, 2012
The Avalon N.J. Real Estate Market Report
Nationally home prices are down 33 percent from their bubble peak, according to the latest S&P Case-Shiller report. According to HousingWire's weekend desk, JPMorgan Chase expects home prices to stabilize in the spring "given recent improvements in housing indicators and economic data, though we recognize that the long-run demand-supply picture remains challenging."
Analysts still project another 5% drop in prices from the third quarter to a bottom in the first half of this year that will equate to a 35% decline from the peak.
Locally, we've now experienced six straight years of declining prices in Stone Harbor and Avalon.
Sellers who have priced their homes competitively are getting offers, and getting SOLD. Property owners hoping for a high price of the old days have their listing remaining unsold .Some have been sitting on market for 2+ years at unrealistic list prices.
2012 is off to a great start .Home sales have increased, and we see more property going under contract now than we've seen in last two years.
January Home Sales Up Again! Existing-home sales rose in January for the third time in the past four months, according to a release from the National Association of Realtors (NAR), and inventory also fell the same month. Total existing-home sales increased 4.3 percent compared to the previous month of December and 0.7 percent compared a year ago in January 2011. Total housing inventory at the end of January fell 0.4 percent compared to the previous month and 20.6 percent compared to a year ago.
With the average rate on the 30-year fixed mortgage now dropped to the lowest since records have been kept, the incentive to buy now has never been greater.
Mortgage rates remain historically low at 4% or under.
Smart buyers are taking advantage of this market while sale prices remain low.These same smart buyers will be bragging about the deals they got in 2012
Avalon Real Estate Sales Activity January 21 to February 11 2012
Each month, I provide the latest Avalon Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Avalon Real Estate Market before you buy or sell a home in the Avalon area.
If you would like similar statistics for a specific area, property type or price range, please send me an email
Nancy@NancyMAlexander.com and tell me how I can help. I can provide real estate market specifics for nearby communities regions around Avalon and Stone Harbor.
Single Family Homes Now For Sale in Avalon as of February 11, 2012
There are 168 single family homes now For Sale in Avalon, These homes range in price from $450,000 to a whopping $11,900,000!
3 Single family Properties in Avalon closed since January 21st, 2012
Average List Price Of Single Family property:$1,491,999
Average SOLD Price Of Single Family property: $2,031,000
Average Days on Market: 308 days
There are 88 Condo/townhouses currently active on the market in Avalon.
10 Condo/townhouses in Avalon Now Under Contract.
4 Condo/townhouses in Avalon closed since January 21st, 2012
Average List Price Of Avalon Condo : $709,000
Average SOLD Price Of Avalon Condo : $616,750
Average Days on Market: 213 days
Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?
Join my Facebook Page:https://facebook.com/NancyMAlexanderRealEstate You can reach me by e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521. I return calls and e-mails within hours, usually in just minutes!
Pre-season beach tags may be purchased weekends beginning April 16 at the Beach Tag Booth at Community Hall. Other beach tags may be purchased daily May 1 through September 5 at the booth on or beginning the Saturday of Memorial Day weekend from beach tag inspectors on the beach. Beach tag fees are: pre-season (purchase on or before May 27) $21.00; season tag (effective May 28) $26.00; weekly (Saturday through Saturday) $12.00 and daily $6.00. Reciprocity of beach tags is observed between Avalon and Stone Harbor.
Seasonal beach tags can also be ordered through the mail this Spring. Please send a stamped, self-addressed envelope, along with a check, to: Avalon Tax Office/Beach Tags, 3100 Dune Drive, Avalon, NJ 08202. Make check payable to: Borough of Avalon. Please indicate how many seasonal beach tags you are ordering at the $21.00 preseason price. You will be mailed a receipt from the tax office. During your next visit to Avalon, redeem your receipt for the number of beach tags that you ordered. Actual beach tags are not sent through the mail. Checks must be received at the Avalon Tax Office no later than May 25th, 2011. Weekly and daily tags cannot be ordered through the mail.
The Avalon Beaches are also
Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate