Avalon & Stone Harbor - May Market Update
Welcome to the month of May! The weather is finally starting to resemble summer at the beach. We are gearing up for the season, full of excitement and hope.
Inventory has remained historically low. There are currently 64 active properties listed for sale in both Avalon & Stone Harbor. 45 are located in Avalon, and 19 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 at some point, but we may be seeing the same type of market through the summer.
Here is the current inventory breakdown:
44 Single Family
2 Vacant Lots
Last month we saw 26 new listings hit the market. In April of 2020, there were 14 new listings.
36 properties were sold in the month of April. The highest sale this past month was $5,750,000. On the other hand, the lowest sale was $295,000. The average sale price was $2,054,618. Comparatively, in 2020, April produced 27 total sales at an average price of $2,106,796.
Here is the price breakdown for the sales:
10 properties under $1 million
12 properties between $1 million and $2 million
7 properties between $2 million and $3 million
7 properties over $3 million
There are a total of 64 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.
Market Update - Avalon & Stone Harbor Rentals
On the rental side of our market, there is still very limited inventory available for this upcoming season. We anticipate another active rental season this year. Many individuals and families booked their Avalon and Stone Harbor rentals earlier than usual. Contact us and connect with an agent who can help you find options for NJ vacation rentals.