Happy 2020! I hope your holidays were wonderful spent with family and friends making amazing memories. All things merry here on Seven Mile Island!
If the last quarter is an indicator, we are primed for a great first quarter of 2020 with 68 homes going under agreement in 90 days! 23.5% of these homes were $3.0 million or more – two oceanfront, three beach block and one Avalon new construction home. There were also sales in the townhome category along with condominiums.
Interest rates continue to remain consistently low at 3.375 for jumbo financing — a full percentage point lower than this time last year. Under 3.0% for very attractive adjustable programs improves buyer's purchasing power in spite of increased property values. First quarter generally sees increased inventory levels along with buyer interest. As new homes enter the market so follows the buyer. Smart buyers are in the market now when there is little to no competing buyer interest. The market is “their oyster”! No bidding wars to worry about.
I just launched a brand new website which is obtaining tons of new interest:
This new and improved website has you the reader in mind. Lots of information about the market and your seashore communities along with vacation sale and rental properties.
Over the holidays you probably decided if you are returning to Avalon and Stone Harbor for vacation. DO NOT DELAY! We have been taking reservations for months and this part of our business never sleeps! Call 609-967-0289 or email
. Andrea has her finger on the pulse of our rental market. It is never too early to finalize your family vacation.
If you decided this is the year to purchase your home instead of rent, call or email me (609-967-0289 -
) with your specific information in hand, I can keep you in mind as new opportunities become available or BEFORE homes actually hit the MLS.
I am hoping 2020 will be a fantastic year for all of us. We look forward to seeing you in the New Year and assisting with any of your seashore real estate needs. And feel free to pass on our name, number and email to friends and family. We will treat them like our own family!
Until we see you again be well and safe!
All the best,
Holly C. Rennie