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
The Stone Harbor N.J. Real Estate Market Report
Stone Harbor Real Estate Sales Activity January 21 to February 11, 2012
Each month, I provide the latest Stone Harbor 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 Stone Harbor Real Estate Market before you buy or sell a home in the Stone Harbor 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 Stone Harbor as of February 11, 2012
There are now 126 single family homes for sale in Stone Harbor as of February 11, 2012.
Low list price: $ 349,000
High list price: $ 8,200,000
Average list price: $ 2,199,208
Average days on Market: 343
Stone Harbor Homes Now Under Contract = 3
Low list price: $ 699,000
High list price: $ 1,395,000
Average list price: $ 947,666
Average days on Market: 262 days
One single family home has SOLD in Stone Harbor since January 21, 2012. Average List price was $3,595,000 Average SOLD price was $3,025,000. Average days on market = 263 days
Stone Harbor Condo/Townhouse now For Sale, Under Contract and SOLD since January 21st, 2012
There are now 79 Condo/townhouse properties for sale in Stone Harbor ranging in price from $225,000 to $2,400,000
Average Days on market =291
http://capemay.paragonrels.com/publink/default.aspx?GUID=664488a8-d0f7-4ecb-88cb-90a73f012a8d&Report=Yes
2 Condo/Townhouses have SOLD in Stone Harbor since January 21, 2012 with an average list price of $677,933, and an average SOLD price of $635,000 and average days on market of 486 days
http://capemay.paragonrels.com/publink/default.aspx?GUID=713ee7bb-6f6d-4daa-93be-3ed2e5e18fc3&Report=Yes
Stone Harbor Beach Tags General Information website http://www.stone-harbor.nj.us/beach_tag.asp
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?
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!
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Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate
