Sales Still Strong Even With Lost Time

Well, I think it is safe to say we dodged a bullet here on the Seven Mile Island.  We are all thankful there was little to no damage from Hurricane Irene on the island. 

SALES

Although we lost the better half of a week on the island, sales were still strong leading into the holiday weekend.  In August the Island managed to put 18 properties under contract.  Avalon again led the way with 13 while Stone Harbor increased their total to 5.  Prices ranged from $459,900 up to $2,799,000.  Although inventory continues to sell under a million, we have now seen three months of activity over the $2M mark.  This translates into buyer's confidence and savings created by low interest rates.  In fact, interest rate levels are at historic lows today and continue to hold low levels.  Low interest rates coupled with aggressively priced properties (even in this market) have created some excellent buying opportunities for families.  

There remains clear cut buys in each price range with the properties most competitively priced selling the quickest.  It is clear the majority of our buyers are purchasing property as a long-term investment and lifestyle choice for their family.

Over the month of August there were a total of 8 more properties added to our total island inventory bringing the number of active listings on the market to 597.  Sale activity has been steady, but we would like to see an increase in the number of transactions, a decrease in total inventory, to be more in line with a healthier market.  Typically we see an uptick in inventory levels soon after the Labor Day Weekend.  I will continue to monitor inventory levels.   

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

It was a successful rental season.  Business was up nearly 10 percent from a year ago.  Thanks to all Owners for the opportunity to help rent your homes and to Tenants for your business.  The shift to Fall rentals is upon us, if you are looking for a getaway please contact me.  Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com for a full list of possible rentals.  

Owners:  2012 Rental Authorization forms will be coming to you shortly.  Please make any necessary changes, sign, and send back in so we can start marketing your properties.  Thanks in Advance.

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