Ocean City, Strathmere, Sea Isle City, Avalon, Stone Harbor, Longport, Ventnor, Margate


   
 
Shore Market Update
July 2017
Vol 8  Issue: 7
Circulation:  2768
CRYSTAL BALL OF THE MARKET...
T he buyers keep coming.  Interest Rates remain low. Multiple offers are not uncommon.  Inventory supply in most shore towns is the lowest since 2009. Most islands are on their way to a record sale transaction year.  Fully equipped single family homes under $800k are scarce; the desirable back-bay water front homes start at 
$1.8 million.  Affordable beach front duplexes are near extinct. If a listing is well maintained and priced correctly, it will sell quickly.  A property that is aging and in subpar condition will take just as long as it did in a buyer's market unless the price reflects the difference of the market price minus improvement costs. One bath, limited parking and lack of central air will slow a sale up considerably.

How long will this market last?  One major headwind is heading to the region known as the shadow inventory. These are properties that are the 2nd and final wave of foreclosed properties that are being released for sale by the banks. These properties are left over from the Great Recession of 2008 and are in various types of condition: 22,000 will be sold by bank reps in Cape May County.  The Wildwoods and Ocean City have the most foreclosures; 60,000 bank owned properties will be unleashed in Atlantic County.  Sellers and buyers should be mindful of the real estate cycles! 
WALTON TEAM - - NEW LISTINGS
 Condo 2 Houses from Beach
610 Chelsea                                    
4 bed first floor condo with updated kitchen and bath.
 
Pri ced at $399,995
Click Photo for Details
Linwood Spacious Corner Ranch
615 Shore Road                               
2-3 bed updated corner ranch near bike path. Garage and sprawling yard.

Priced at $174,950
Click Photo for Details
Coming Soon
3321 Asbury
3 bed/2 bath 1st floor condo one block from beach.  Upgraded throughout plus garage.  

Priced at $488k

 
Shore Market Activity - June, 2017

New
Listings
Under
Contract

Sold
Ventnor
51
36
29
Margate
53
26
25
Longport
13
8
3
Ocean City 99 59 79




Sea Isle City
17
16
18
Avalon/Stone Harbor
28
20
26
The Wildwoods
110
78
105

OCEAN CITY VOTED FAVORITE BEACH IN NJ!!
Ocean City, New Jersey was voted Cape May County's Favorite Beach AND New Jersey's Favorite Beach in the 2017 New Jersey Sea Grant Consortium contest!   

The New Jersey's Top Ten Beaches Survey was created in 2008 to encourage stewardship and pride in the state's beaches while promoting a little healthy competition between New Jersey's favorite beach towns. The contest has become a highlight of the state's summer festivities.


See Below  for the South  Jersey Shore MARKET ACTION
June, 2017

In This Issue
Crystal Ball of the Market
Walton Team New Listings
Coming Soon
Shore Market Activity
Featured Listing
OCEAN CITY EVENTS:  
     
 
 
Who do you know that is looking to buy , sell or invest in real estate
 that could use our help?   
Please call or text The
Walton Real Estate Team
 
John Walton:
609-338-7667
 
Stacy Demcher
610-662-0919
 
 
 Featured 
Listing
   
 
3506 Central
Click Photo for Details

Ocean City
Professionally designed interior, ocean view

$825k

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