2011 – MAY – AVALON, NJ:

 

RESIDENTIAL – UNDER CONTRACT: MAY 1, 2011 TO MAY 31, 2011 = (6)

                                                                                     ORIGINAL          REDUCED          DAYS ON

ADDRESS                                                                    LIST PRICE         LIST PRICE         MARKET

148 21st (5)Bed.,(2)Bth.                                           $749,000.             SAME                     65

246 42nd (4)Bed.,(3)Bth.                                          1,295,000.          995,000.                  90

273 75th (6)Bed.,(2.5)Bth.                                       1,299,000.             SAME                    285

11 Heron (4)Bed.,(3.5)Bth.                                      3,495,000.       2,999,999.                 604

7568 Sunset (4)Bed.,(3)Bth.                                    4,250,000.            SAME                     1

7578 Sunset (6)Bed.,(5)Bth.                                    4,995,000.        4,250,000.                 476

 

RESIDENTIAL – COMPARABLE SALES: MAY 1, 2011 TO MAY 31, 2011 = (9)

                                                         ORIGINAL          REDUCED          SOLD          CLOSING        DAYS

ADDRESS                                         LIST PRICE         PRICE                PRICE          DATE             onMkt

389 21st (3)Bed.,(1)Bth.               $ 749,000.        $ 469,000.       $ 410,000.    5/6/11          1,356

559 22nd (3)Bed.,(1)Bth.                  549,000.           524,900.          490,000.    5/28/11        249

1619 First (3)Bed.,(2)Bth.                799,000.             SAME             799,000.    5/24/11        21

226 43rd (3)Bed.,(2.5)Bth.                999,999.           925,000.          900,000.    5/27/11        215

273 76th (3)Bed.,(1.5)Bth.              1,195,000.             SAME            990,000.    5/27/11        85

161 8th (4)Bed.,(3.5)Bth.                 1,450,000.            SAME         1,360,000.    5/3/11           77

26 E. 24th (4)Bed.,(3)Bth.                1,879,000.       1,695,000.      1,585,000.    5/18/11         385

150 39th (5)Bed.,(4.5)Bth.               2,250,000.             SAME        2,116,666.     5/16/11        101

140 77th (5)Bed.,(4.5)Bth.               3,495,000.       3,295,000.      2,762,500.     5/31/11        279

                                                       (13,365,999.)    (12,602,900.)   (11,413,166.)                   (2,768)

Average Original               Average Reduced               Average Sold               Average Days on

List Price = $1,485,111.     List Price = $1,400,322.    Price = $1,268,129.    Market = 307

-          Difference between ORIGINAL List Price and SOLD Price = (15%)

-          Difference between ORIGINAL List Price and REDUCED Price = (6%)

 

LOTS/LAND – UNDER CONTRACT: MAY 1, 2011 TO MAY 31, 2011 = (0)

LOTS/LAND – COMPARABLE SALES: MAY 1, 2011 TO MAY 31, 2011 = (1)

                                                   ORIGINAL          REDUCED          SOLD          CLOSING        DAYS

ADDRESS                                   LIST PRICE         PRICE                PRICE              DATE         onMkt

249 64th (60’x110”)                 $1,595,000.       $1,495,000.   $1,300,000.      5/27/11      694

-          Difference between ORIGINAL List Price and SOLD Price = (19%)

-          Difference between ORIGINAL List Price and REDUCED Price = (6%)

 

COMMERCIAL – UNDER CONTRACT: MAY 1, 2011 TO MAY 31, 2011 = (1)

                                                                                   ORIGINAL               REDUCED               DAYS ON

ADDRESS                                                                  LIST PRICE              LIST PRICE              MARKET

3101 Dune #202 (Diller & Fisher Plaza)               $175,000.              $79,900.                     1,828

 

COMMERCIAL – COMPARABLE SALES: MAY 1, 2011 TO MAY 31, 2011 = (1)

                                                                       ORIGINAL        REDUCED        SOLD        CLOSING     DAYS

ADDRESS                                                      LIST PRICE          PRICE           PRICE              DATE    onMkt

3101 Dune #201) Diller & Fisher Plaza)  $125,000.         $79,900.       $65,000.         5/28/11    592

-          Difference between ORIGINAL List Price and SOLD Price = (48%)

-          Difference between ORIGINAL List Price and REDUCED Price = (36%)

 

MULTI-FAMILY – UNDER CONTRACT: MAY 1, 2011 TO MAY 31, 2011 = (0)

MULTI-FAMILY – COMPARABLE SALES: MAY 1, 2011 TO MAY 31, 2011 = (0)

 

CONDO/TOWNHOUSE – UNDER CONTRACT: MAY 1, 2011 TO MAY 31, 2011 = (3)

                                                                                              ORIGINAL            REDUCED            DAYS ON

ADDRESS                                                                             LIST PRICE            LIST PRICE         MARKET

1668-1688 Ocean (3)Bed.,(2)Bth. #B-1                         $649,000.              $629,000.              250

*2527 Dune (4)Bed.,(3)Bth. #2527                                   779,000.                 SAME                  169

296 65th (5)Bed.,(3.5)Bth. West                                        839,000.                799,999.              188

(1)NEW CONSTRUCTION

 

CONDO/TOWNHOUSE – COMPARABLE SALES: MAY 1, 2011 TO MAY 31, 2011 = (14)

                                                                       ORIGINAL        REDUCED        SOLD        CLOSING     DAYS

ADDRESS                                                      LIST PRICE        PRICE              PRICE           DATE      onMkt

287 14th (3)Bed.,(2.5)Bth.                         $ 639,900.       $ 472,770.      $ 462,000.    5/31/11     676

55 W. 32nd (3)Bed.,(2)Bth. #4(2-B)             559,000.          539,000.          541,000.    5/25/11       81

1318 Ocean (3)Bee.,(2)Bth. #D-9                635,000.            SAME             590,000.    5/13/11       91

*2172 Dune (3)Bed.,(3)Bth. #2172             750,000.          699,000.          665,000.    5/6/11        483

234 33rd (5)Bed., (3)Bth. West                     859,000.          759,000.          700,000.    5/6/11       368

259 28th (4)Bee.,(3)Bth. East                        749,900.          724,900.          712,500.    5/6/11       287

*2531 Dune (40Bed.,(3)Bth. #2531            779,000.            SAME              715,000.    5/20/11    170

224 27th (4)Bed.,(3)Bth. West                      739,000.            SAME              740,000.    5/3/11       42

3389 Ocean (5)Bede.,(3)Bth. East               849,000.            SAME              800,000.    5/9/11       126

*252 29th (5)Bed.,(3.5)Bth. East                  849,000.             SAME             825,000.    5/27/11     252

746 21st (2)Bed.,(3.5)Bth. East-Bay             995,000.             SAME             915,000.    5/11/11    103

66 E. 20th (2)Bed.,(2)Bth. #204                 1,175,000.             SAME             999,990.    5/7/11       246

499 24th (5)Bed.,(4)Bth. West-Bay           1,325,000.             SAME          1,200,000.    5/6/11      109

700 22nd (5)Bed.,(4)Bth. East-Bay            1,325,000.             SAME           1,215,000.    5/23/11    89

(3)NEW CONSTRUCTION

                                                                 (12,228,800.)     (11,865,670.)     (10,883,490.)            (3,123)

Average Original               Average Reduced               Average Sold               Average Days on

List Price = $873,485.       List Price = $847,548.         Price = $777,392.        Market = 223

-          Difference between ORIGINAL List Price and SOLD Price = (11%)

-          Difference between ORIGINAL List Price and REDUCED Price = (3%)

 

 

 

TOTAL AVALON SALE INVENTORY (AS OF 6-17-2011) = 362

RESIDENTIAL                                         206

LOTS/LAND                                            25

COMMERCIAL                                        15

MULTI-FAMILY                                       6

CONDO/TOWNHOUSE                         110