Avalon & Stone Harbor - March Market Update
Welcome to March! Spring at the beach is around the corner, and summer is in our sights.
Inventory has remained historically low. There are 66 active properties listed for sale in both Avalon & Stone Harbor. 43 are located in Avalon, and 23 in Stone Harbor. Motivated buyers in this market need to be ready to react if a property in their price range gets listed! We expect to see inventory in Avalon & Stone Harbor increase in the coming months.
Here is the current inventory breakdown:
39 Single Family
6 Vacant Lots
Last month we saw 20 new listings hit the market. In February of 2020, there were 51 new listings.
22 properties were sold in the month of February. The highest sale this past month was $4,877,000. On the other hand, the lowest sale was $547,000. The average sale price was $2,003,818. Comparatively, in 2020, February produced 20 total sales at an average price of $1,889,926.
Here is the price breakdown for the sales:
5 properties under $1 million
4 properties between $1 million and $2 million
11 properties between $2 million and $3 million
2 properties over $3 million
There are a total of 22 properties that are currently under contract.
Please contact us to discuss the value of your property and explore our marketing advantages with Sotheby’s International Realty. Interest rates remain historically low. If you are considering a purchase in Avalon or Stone Harbor, it is important to consult with a lender to discuss mortgage products, borrowing options, and the pre-approval process. Contact us to find the best value in properties currently listed on the market.