1st Quarter Data Points To An Active Year

SALES

This past month was again busy with sale activity as Avalon posted 12 properties under contract while Stone Harbor posted 8 properties that went under contract.  That is a total of 60 properties under contract for the 1st Quarter of this year. 

Here is some data to digest:

*There are 8,709 dwelling units on our seven mile island:  5,281 in Avalon; and 3,428 in Stone Harbor.

*To put the current sale inventory in perspective, just 6.8% of the total number of units (597) are available for sale.

*1st Quarter Results Have Eliminated 10% of Our Inventory on The Seven Mile Island

*Single family homes: 320 on the active sale market, ranging in price from $479,000 to $14,950,000.  The median asking price is $1,725,000.

*Condo/townhouse units: 188 on the active sale market, ranging in price from $155,000 to $1,895,000.  The median asking price is $749,900.

*Building Permits on The Seven Mile Island are up 15% Year to Date over 2010

This data illustrates and reinforces a positive view of our shore market with a slow but steady increase in sales over the last 3 years and very little, if any decrease in price points during the past 6 - 9 months.  In addition, our rental market is showing to be stronger than this same time last year with overall rentals up about 8%.  We are looking for these trends to continue throughout the spring and moving into the summer months.  All indications are pointing towards a busy and profitable season for our economy and our local businesses!

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island's real estate market is a great place to invest in, all while creating lasting memories for your family.  We are still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral is the highest honor I can receive from a client!  Thanks for your confidence in me and please continue to refer your friends, family, neighbors and co-workers.

RENTALS

Rentals are up 8%!!!  Peak weeks are being rented very heavily.  Still open weeks in most properties through June.  If you are looking for a family vacation please start your searches now or you will be left with few options.   Please search my website for potential rentals for the 2011 summer season.  For a full list please email me at  Ryan@RyanVince.com .