The Avalon & Stone Harbor real estate market continues to see brisk activity! Most engines will not endlessly run at a “full-tilt” pace, and this boutique marketplace is no different. This is part of a ‘normalizing’ of market conditions, as evidenced by the stats listed below.
Although there is no way to accurately describe an entire Island’s real estate market in just a few sentences, most agree that the Avalon/Stone Harbor real estate market moves at a different pace than the broader “National” market, for which the pundits typically extract their very generalized data.
More often than not, our Sellers are selling because it’s the right time in their Homeownership Life Cycle to sell – a sale of convenience, not necessity.
Likewise, the Buyers we work with are usually not in a must-have situation. Most are working to attain their goals, and they maintain focus on their long-term plan.
In fact, my Uncle Chris once shared with me a definition of SUCCESS – the progressive realization of one’s own, predetermined, worthwhile goals. I relate that definition to what I’ve observed when working with most families who purchase on the Island…together, we work diligently, sometimes for years (the progressive realization) to achieve their goal, despite negative chatter and possible bumps along the way! And when the time comes – they are buying!
So as they say “Don’t wait to Buy – Buy and then wait”!
Here’s what we’re seeing now…
The Menu has expanded!! Thankfully, there are more properties For Sale, and the expanded Menu finally allows us to have more conversations with Buyers about their “options”! For the past two years, options were extremely limited. Many of the prospective buyers already own in Stone Harbor, Avalon or Sea Isle City, and they are looking to trade-up to a property that better suits their needs. Once they find a suitable replacement property, then we list their property For Sale. Activity breeds activity!
So...if you are looking to BUY here on the Island, please send me a note or call me so that I can be “on alert”!
And if you are looking to SELL, it’s important for you to have your finger on the pulse of the Market, so I welcome the opportunity to prepare a Free, NO Obligation Market Analysis for you!
COMPARING 2019 STATS TO TODAY…As of August 1st
FOR SALE
2019 - there were 150 single-family homes For Sale (Median Asking Price $2,895,000) and 57 condo/townhomes For Sale (Median Asking Price $699,000)
Today - 64 single-family homes (Median Asking Price $4,495,000) and 32 condo/townhomes For Sale (Median Asking Price of $1,472,500)
Mid-January 2022 - there were only 26 single-family homes For Sale and 23 condo/townhomes For Sale
SALES
Last month, 22 properties were placed Under Contract For Sale, 7 of which sold within 14 days
June 1st to August 2nd - 37 Properties Placed Under Contract For Sale; Median of 62 Days on the Market
June 1 to Aug 2nd 2019 - 65 properties Placed Under Contract For Sale; Median of 137 Days on the Market
