Berkshire Hathaway HomeServices Fox Roach Stone Harbor Avalon NJ Logo

    Stone Harbor's Real Estate Blog

    Saturday, February 28, 2015
    REAL ESTATE MARKET UPDATE - BY HUGH V. MERKLE
    REAL ESTATE SALES RESULTS REVIEW 2014 - 2003
    FOR AVALON & STONE HARBOR
    BY HUGH V. MERKLE
     
    Thursday, February 26, 2015
    AVALON AND STONE HARBOR REAL ESTATE MARKET UPDATE... BY HUGH V. MERKLE
    On a barrier island, like SEVEN MILE BEACH, AVERAGE SALE PRICE is not a true indication of whether there is appreciation or depreciation in property values.  AVERAGE SALE PRICE is greatly impacted by the number of high end and low end properties selling.  Determining the value of property is much more specific than looking at Average and Median price of properties on a barrier island where there is such disparity in value from block to block going east to west, BEACH to BAY.  Because of the uniqueness of a barrier island with ocean front and bay front properties
    selling much higher in price than interior properties, there is a substantial difference in values from one block to the next – east to west – than would exist in typical suburban markets, where average sale price may be more consistent with appreciation and depreciation because of large subdivisions.
     
    The two categories to focus on that impact value in Stone Harbor and Avalon are SINGLE FAMILY HOMES & CONDOMINIUMS where 94% (Stone Harbor) and 90% (Avalon) of SOLD properties came from these two categories in 2014.  SINGLE FAMILY HOMES: In Stone Harbor the Average Sale Price decreased and the Median Price increased in 2014.  In Avalon both the Average Sale Price and Median Price increased.  One major reason for the decrease in Average Sale Price in Stone Harbor was the result of fewer sales above $3,000,000.00 compared to 2013.  CONDOMINIUMS: In Stone Harbor both the Average Sale Price and the Median Price increased in 2014.  In Avalon the Average Sale Price increased while the Median Price decreased.  One major reason for this decrease in Median Price was 15 fewer condominiums SOLD in 2014 than in 2013. 
     
    In 2014 as in 2013 there was evidence of increased property values in beach block and the interior blocks as evidenced in the appreciation of NEW CONSTRUCTION and LAND VALUE. As NEW CONSTRUCTION values go up it contributes to an increase of land value in lots and in “tear down”properties.  NEW CONSTRUCTION is having a very positive impact on values increasing.  The one area where property values have not shown appreciation in value, where there has been a continued slight decrease in value over the past two years, is with BAY FRONT properties. 
     
    2013 and 2014 were the first years since 2005 that there was any uptick in property values.  From 2006 to 2012 property values dropped in the range of 40% in Stone Harbor and Avalon with the largest drops coming in 2006, 2009 and 2010. 
     
    In order to determine the actual increase or decrease in property values it is necessary to look at specific properties in specific locations, i.e. Beach Block, 100 Block, 200 Block, etc.
    Tuesday, February 24, 2015
    High End Properties Sold Over the Past Eight Years 3 Million & above.

    HIGH END PROPERTIES SOLD PAST EIGHT YEARS
    $3,000,000.00 and Above

    YEAR
    AVALON STONE
    HARBOR
    FROM
    2014
    12
    4
    $3,000,000 - $7,000,000
    2013
    6
    7
    $3,000,000 - $6,000,000
    2012
     8  7 $3,000,000 - $6,600,000
    2011
     8  8 $3,000,000 - $12,417,380
    2010
    5
    4
    $3,000,000 - $5,150,000
    2009
    5
    1
    $3,000,000 - $5,100,000
    2008
    15
    6
    $3,000,000 - $6,500,000
    2007
    21
    10
    $3,000,000 - $13,250,000
    2006
    19
    12
    $3,000,000 - $9,000,000
     
    NOTE: These chart above includes the statistics on all SOLD properties in Avalon and Stone Harbor from 2006 to 2014
     
    Sunday, February 22, 2015
    Download our new Stone Harbor & Avalon Real Estate APP.
    Our APP features:
    • Stone Harbor & Avalon Real Estate Sale Property MLS Information
    • Stone Harbor & Avalon Real Estate Vacation Rental Properties
    • Contacting Hugh Immediately By Cell Phone or E-Mail or Text
    • A Dynamic & Easy To Use Mortgage Calculator
    • Social Media About What Is Happening In Stone Harbor & Avalon
    • And So Much More!
    Friday, February 20, 2015
    Hugh's News is a great way to stay in touch with Stone Harbor, Avalon and Cape May County Real Estate information!

    Hugh's News, What's Inside?

    THESE ARE VERY POSITIVE TIMES FOR STONE HARBOR & AVALON REAL ESTATE!!!!
    • 2014 sale prices continued to increase for the second year in a row.
    • 2015 rental leases are ahead of the pace for 2014.
    • There is more new construction of homes as we move into 2015.
    • Mortgage Interest Rates continue to be amazingly low.
    • See 2014 Detailed Avalon and Stone Harbor Sales Results. Pages 4,5,6,7 & 14.
    • See why Stone Harbor & Avalon Real Estate Values keep ahead of other Jersey Shore Communities. Page 18.
    • See Update on Flood Insurance. Page 16. Stone Harbor & Avalon home owners receive a 25% discount on Flood Insurance Premiums.
    • See 1031 Tax Deferred Exchange Benefits. Page 14.
    DON’T MISS….
    • Stone Harbor Shiver - March 13 Pre-Plunge Party @ The Yacht Club of SH then TAKE THE PLUNGE on March 14.
    • Shop-A-Holics @ Whitebrier & The Princeton – March 6 to 8.

    Click to view Hugh's News 2015

    Older Posts


    Bookmark and Share



    The Hugh Merkle Team
    Berkshire Hathaway HomeServices Fox & Roach Realtors
    609-368-9100
    Fax: 609-368-9107
    Toll Free: 877-314-2726



    Skip Navigation Links.
Home Real Estate Sales Vacation Rentals About Us Contact Us Property Services Vacation Guide Privacy / Terms