What a great turnout for the Memorial Day Weekend. The weather was great and there were plenty of events for the family. The summer fun continues this month as well. We have plenty of rental properties for you, your friends and family. Call us today so we can help with your plans.

Grand Opening of Surfside Park
Mark your calendar for Saturday, June 22^nd. Festivities begin 6 pm through 8:30 pm with a performance by Jimmy and the Parrots.

Avalon is Planting New Trees
The Borough of Avalon has received a $30,000 grant from the New Jersey Parks and Forestry to plant 89 new trees throughout the community in specially chosen location. The project started in the Fall, 2018 and continued in the Spring, 2019. Careful attention was given to the selection of the trees and their placement. The trees will be monitored for the next 2 years to assure their success.

New trees next to Avalon Basketball Courts
Source:Avalon Borough

Townsend's Inlet Bridge Update
Cape May County has good news to report. The work on the bridge project has progressed better than projected. Along with favorable weather conditions, the critical work has been moving along more quickly than anticipated. The commission is projecting a probable opening date on or about July 30^th.

All of the pier caps have been placed, deck stringers for spans 1 and 2 are in place, and it is expected that the other remaining framing components are in place by the first week of June. If work proceeds as expected, the bridge deck surface should be completely poured by June 21st, which will then open the way for the construction of the final bridge components such as the sidewalks and railing.

Market Trend Update for May
Memorial Day 2019 was the highlight of the month if not the year! If the last weekend of May is any indication of summer's weather, we will all be very happy this summer.

Everyone must have been planning for the big holiday and clearing out after all the rain because they were too busy to be at the shore buying homes. May is the first month this year we saw a downturn in sales as compared to the last three years - 28 total properties sold on the island as compared to 26 in 2018, 35 in 2017 and 31 in 2016.

The shift in property values placed under contract impacted the average sale price. The average sale price across all property categories sat at $1,378,000 for May 2019 as compared to $1,984,000 in 2018; $1,517,100 in 2017 and $1,666,000 in 2016. In 2018 sales over $2.0 million represented 49% of total sales; 37% in 2016 and 26% in 2017. In 2019 sales over $2.0 million represented 23% of the total sales for the month. 76% of the sales in May 2019 were under $2.0 million.

As we move into the summer selling season the buyers are responding to some great values with multiple offers pushing sale prices over asking price. Property values in the west and 100 blocks of Avalon are growing at double digit rates as developers purchase older single homes/lots with new homes planned for the 2020 season. One example: 50' x 110' lots sold in the west block at the end of 2018 and first quarter 2019 in the $1.5-$1.57 million range. These same lot sizes are selling for $1,629-$1,739 in the last 30-45 days.

Single home inventory levels are practically even with those of June 2018 and fairly consistent throughout the first five months of the year; 50% of the single home inventory in Avalon is over $3.0 million while 26% is priced under $2.0 million.

Townhome inventory is severely depleted with only 12 in Avalon, less in Stone Harbor. There is not even a 3-month supply of 4-5 bedroom townhomes for sale. Condo inventory is heavily weighted in the efficiency and one bedroom units with 50% of our Avalon condo inventory in this category. Avalon has 36% fewer condo/townhomes for sale going into the summer selling season than 2017 and 60% fewer homes than 2016.

The Ferguson Dechert sales team continues to dominate the market with a 42% market share selling more Avalon property than the combined sales of the next six agencies, and selling more homes in Stone Harbor than any other agency in Stone Harbor in the month of May. The team is knowledgeable, productive and aggressively approaches each segment of the market.

If you are interested in learning your property value in today's market or looking for assistance in navigating this market for your home purchase, call or email me today. Whether selling or buying, you deserve the power of knowledge, market and sales expertise and a work ethic to get the job done. I will deliver the results you desire and deserve.

THIS MONTH'S MARKET TRENDS

Call to make your plans to come to Seven Mile Island!
Call us today 609-967-0289.

• June 15^th - Avalon Lions Club Pancake Breakfast, Avalon Community Hall, 8 - 11 am
• June 15^th - Avalon Historical Society Olde House Tour, Avalon History Center, 1 - 4 pm
• June 15^th - Early Avalon Exhibit Opening, Avalon History Center, 1 pm
• June 15^th - Big Band Dance: The Star Band, Avalon Community Hall, 7 pm
• June 19^th - Paper Peddler Trivia Night, Avalon History Center, 6 pm
• June 20^th - Tea Time, Avalon History Center, 11 am
• June 22^nd - Seashore Ace Grill Demo, 10 am - 4 pm.
• June 22^nd - Avalon Free Public Library Book Bash, 10 am - 12 pm
• June 22^nd - Avalon Performing Arts Council/Celebrating Three Decades of Art, Avalon Community Hall, 10:00am-4:00pm
• June 22^nd - Grand Opening Surfside Park/concert by "Jimmy and the Parrots", 6:00pm
• June 27^th - Avalon Civic Club "Under the Boardwalk" Luncheon/Card+Game Party, Avalon Community Hall, Noon
• June 27^th - Philadelphia Flyers Autograph Session and Beach Volley Ball, 95th Street Beach, 9:30 am - 5 pm
• June 29^th - Tim Kerr Charities Islandman Triathlon, Avalon Community Hall, 7:15 am; 9:15 for Islandkids Triathlon
• June 30^th - Avalon Field Races and Family Fun, 10th Street field, 10 am
• July 1^st - Kids Event Science Tellers, Avalon Free Public Library, 10 am
• July 1^st - Tie Dye Day, Avalon Community Hall, 10 am - 12 pm
• July 1^st - "Early Avalon" Walking Tour, History Center, 6 pm
• July 2^nd - 63rd Army Band Concert, Veterans Plaza, 7-8:30 pm
• July 3rd - Mummers Parade, Avalon Community Hall, 6 pm
• July 4^th - Boar Parade, High Tide
• July 4^th - Beach Concert, Andrew Jude, 30^th Street Beach, 1-3pm
• July 4^th - Avalon Independence Day Celebration, 30^th Street Parking lot, 6-8- pm
• July 4^th - Bay Atlantic Symphony Concert, Avalon Community Hall, 7 pm
• July 4^th - Avalon Fireworks, 30^th Street beach, 8:45 pm
• July 4^th - Stone Harbor Rec Field Day & Phillies Home Run Derby, 8100 Second Ave, 9 am - 2 pm
• July 4^th - Stone Harbor Independence Day Celebration and Fireworks, 7:30 - 10:30 pm
• July 6^th - Cape-Atlantic 5 Mile Run, Avalon Community Hall
• July 6^th - Lowe Tide Beach Ride for Brendan's Fund, 9^th Street Beach, 5:30 pm
• July 8^th - Kids' Event Book Bingo, Avalon Free Public Library, 10 am
• July 8^th - NJ Waterways Lecture, Avalon Free Public Library, 6 pm
• July 9^th - Tuesdays at the Tower, Stone Harbor Concert Series, 95th Street Tower Plaza, 7 - 8:30 pm.
• July 10^th - Author Lecture, Amor Towles, Avalon Free Public Library, 7 pm
• July 11^th - Avalon Historical Society Miniature Golf Competition, Go Fish Mini Golf, 6 pm
• July 12^th - Motown Band "Shadows of the 60s", Avalon Free Public Library, 7 pm
• July 13^th - Surfside Seven Rugby Tournament, 8100 Second Avenue.
• July 13^th - Avalon Flip Flop Walk, Boardwalk at 32^nd St, 8 am
• July 13^th - Big Band Dance, Rick Martin Orchestra, Avalon Community Hall, 7 pm
• July 15^th - Stone Harbor Family Fun Night, 175 96^th Street, 7 pm - 7:45 pm
• July 15^th - Kids Event, Behind the Scenes at the Museum, Avalon History Center, 10 am
• July 15^th - Pinelands Preservation Lecture, Avalon Free Public Library, 6 pm