The perfect way to welcome spring is a trip to Seven Mile Island. The days are brighter and longer and there is plenty to do in Avalon and Stone Harbor. Take a break from spring cleaning and take a stroll on the beach, shop on 96^th Street, visit the Wetlands Institute for Turtle Fest and splurge on a first-of-the-season ice cream cone.

Only 42 days until the Memorial Day Weekend season kickoff.

Townsend's Inlet Bridge Closed Until Late Summer
The Cape May County Bridge Commission's contractor expected to have the bridge completed by May 22nd with no delays from weather, tidal events and the overall complexity of the project. Additional manpower and construction work shifts were added to meet the deadline. On April 8th, the County of Cape May issued a press release detailing the entire project and the substantial delay in the planned opening date of the bridge. The current estimate is a late-summer opening. Read more here.

2019 Avalon Sand Backpassing Project
Avalon Borough is implementing this project in order to restore its north end beaches. The project has been conducted regularly since 2012 to make emergency beach repairs in advance of the Atlantic Hurricane Season which begins June 1^st. The restoration is just begun and expected to be completed before Memorial Day Weekend. This is the 5^th backpassing project and will restore beach damages from 9^th Street south to 15^th Street. The beach paths from 11^th to 13^th Street are closed for safety. The restoration work is being done by the Avalon Department of Public Works and we are asked to avoid the construction area for safety. For more information, click here.

Clean Ocean Action - Spring Beach Clean
The Borough of Stone Harbor, Stone Harbor Property Association and the Wetlands Institute is looking for volunteers, no pre-registration is necessary! Meet at the Beach Patrol Headquarters at the 95^th Street Beach entrance on Saturday, April 13^th from 9 am to 12:30 pm. This is a rain or shine event, bring your gloves; trash bags will be provided. Make Stone Harbor beaches beautiful!

2019 Spring South Jersey Gas EFV Project
South Jersey Gas is currently installing about 650 Excess Flow Valves (EFVs) throughout Avalon Borough. The project affects about 10% of Avalon residential properties. The valves are a safety component to protect private homes and properties in advance of a catastrophic storm event. This is the "Storm Hardening and Reliability Program" approved by the NJ Board of Utilities. While a temporary inconvenience, the program will provide "long-term sustainable resilience for natural gas customers". No work will be conducted after Memorial Day weekend, through the summer. For more information, click here.

Market Trend Update for Year End
We wish you and yours the very best Easter and Passover season. Many of you will return to your summer homes for the Easter celebration and Avalon and Stone Harbor has loads going on. Please check the calendar of events below as activities are spread between Palm Sunday weekend and Easter weekend. There is also lots going on mid-week for spring break in Cape May so don't miss out - reserve early.

March weather came in like a lion and continued. This impacted buyer interest; island sales did not easily surpass 2018 sales. Sales are essentially even with last year as of April 2^nd reporting, although there are probably a few last minute updates to post later this week. Single family sales are ahead 23% with Stone Harbor leading the pack with the highest sale prices for the month. Two oceanfront homes sold in Stone Harbor priced at $6.5 and $6.995 million. In 2018 there was one oceanfront sale in March in Avalon at $8.6 million.

Single homes on the bay were quiet in March with only two sales, both teardowns; one in Avalon priced at $1,595,000 and the other in Stone Harbor priced at $2,595,000. Both will be replaced with new homes. Avalon had 3 bay front townhomes go under agreement, a resale of a 16-year-old townhome priced at $1,079,000, a completely updated Cornell Harbor at $1,450,000, and new construction priced at $2.2 million. Ferguson Dechert agents were involved with all sales but one. Beach block sales stand at 4 - all involving Ferguson Dechert agents; 3 sales in Avalon and 1 in Stone Harbor.

As we enter April Avalon has 100 single homes to sell, 50% are priced over $3.0 million while only 30% are priced under $2.1 million. The bayfront market has only 12 homes for sale with prices ranging from $3.5 -$7.5 million; 6 of these homes are new construction or newer homes.

Five of the available homes are oceanfront between $8.0 and $9.0 million; none are new construction homes. Avalon's beach block has 19 homes for sale, 48% of these are in the south end. Newer/new construction beach block pricing runs from $3.2 million for new construction in the north end to $7.2 million for an oversized parcel with a new custom home in the south end. Teardown or major renovation sits in the $1.9 to $2.5 million range on the beach block.

Stone Harbor has 56% fewer single homes for sale than Avalon as we enter the month of April - 44 homes for sale. 37% of these homes are priced over $3.0 million while 25% are priced under $2.1 million. Oceanfront homes sit at 2; both are teardowns at $5.8 to $7.9 million. Seven beach block homes are available from $2.9 to $5.2 million while the bay offerings sit at 6 - only one of a newer property style at $4.0 million.

Sales of townhomes well exceed those of March 2018 with 7 sales compared to only 4. Avalon continues to dominate this market segment due to inventory levels, locations and condition. Of the 26 townhomes available, 11 are priced at $1,850,000 or more with 8 new construction bayfront townhomes in Avalon. Stone Harbor has six townhome offerings; two are new construction with pools and one resale bayfront priced at $1,850,000 or more. The townhome market, particularly in new construction has easily surpassed the $1.4 million sale price. Resale of 4-5 bedroom townhomes in the $800,000-$900,000 price range are quickly becoming a thing of the past.

Condo sales were substantially off with only 3 sales for the month as compared to 11 in 2018. The lack of sales is found in the inventory mix. Of the 43 condos for sale, 45% are one bedroom floor plans which historically are the most challenging to sell; 14 of these are of the condo-tel property style which is not in high demand in this marketplace.

Every market segment can benefit from new fresh inventory. We are seeing a slowdown of appreciation NOT depreciation. Values are not appreciating at the same pace as the past 18-24 months. It appears we are returning to a "normal" appreciation. If selling your home is a consideration look at these numbers. Where does your home fit in? Would you benefit from listing for sale and maximize your home value now rather than waiting? Is it time to trade up? Move on? Or downsize?

Interest rates continue to be buyer friendly with buyer's purchasing power increasing with each adjustment in rates. Buyer demand is here. Buyers can benefit from excellent purchasing programs that may not be here 6 months from now. Their investment will enjoy future healthy appreciation. If I can help you learn more about your specific home value or direct you in identifying and negotiating the purchase of your second home, give me a call today.

THIS MONTH'S MARKET TRENDS

Only 42 Days until Memorial Day Weekend!
Call to make your plans to come to Seven Mile Island!
Call us today 609-967-0289.

• April 13^th - Afternoon Tea, Avalon Free Public Library, 1 pm - 3 pm
• April 13^th - Stone Harbor Chamber of Commerce Job Fair, Coffee Talk, 10 am - 2 pm
• April 13^th - Easter Egg Hunt, Stone Harbor Firehouse, 12 pm - 2 pm
• April 15^th - Knitting, Avalon Free Public Library, 3:30 - 4:30 pm
• April 19^th - Arbor Day Celebration, Stone Harbor Elementary School, 11 am - 1 pm
• April 20^th - Avalon Easter Egg Hunt, 8th St. Playground (1-4 yrs. old); 10th St. Field (5-6 yrs. old), 12th St. Field (7-10 yrs. old), 10 am
• April 20^th - Wetlands Institute Turtle Fest, Wetland Institute, 9 am - 3 pm
• April 20^th - Seashore Ace Grill Demo, Ace Home & Outdoor Living, 10 am - 4 pm
• April 20^th - Job Fair, Yacht Club of Stone Harbor, 9 am - 1 pm
• April 20^th - Job Fair, Windrift, 11 am - 3 pm
• April 26^th - Avalon Garden Club Arbor Day, 36th Street and Dune Drive, 10:30 am
• April 27^th - Avalon Dune Grass Planting, Avalon Community Hall, 8:30 am
• April 28^th - MudHen Half Marathon, Starts in Wildwood at 7:30 am; enters Stone Harbor 8:00 am
• April 28^th - Windrift Bridal Fair, Windrift Hotel, 11 am
• May 1^st - Photography Contest and Exhibit, Avalon Historical Society, throughout May
• May 4^th - Stone Harbor Spring Tide Festival & Boat Show, 96th Street, 11 am - 5 pm
• May 4^th - 5th - Avalon Garden Club Plant and Bake Sale, Avalon Community Hall, 10 am - 4 pm Sat; 10 am - 2 pm Sun.
• May 4^th - Stone Harbor Merchants' Spring Sidewalk Sale, Downtown Shopping District, 10 am - 5 pm
• May 4^th - Cape May County NJ - The Making of an American Resort Community, Avalon History Center, Author is speaking.
• May10th - Wetlands Institute Native Plant Sale, through May 12th
• May 10^th - Brendan Borek Annual Golf Tournament, Stone Harbor Golf Club, 10 am
• May 10^th - Avalon Wine & Spirits Festival, Avalon Community Hall, 6:30 pm - 9 pm
• May 11^th - Avalon Fire Department Plant Sale and Hoagie Sale, Avalon Firehouse, 9:30 am - 4:30 pm
• May 11^th - Avalon Yard Sale, Avalon Community Hall for map, 9 am - 3 pm
• May 11^th - Avalon Lions Club Yard Sale, Helen L. Diller Vacation Home from Blind Children, 9 am - 3 pm
• May 11^th - Avalon Paper Shredding Day, Avalon Public Works, 9 am - 2 pm
• May 11^th - Avalon Police Department Bicycle Auction, Avalon Public Works, Noon
• May 11^th - Stone Harbor Garden Club Plant & Bake Sale, Stone Harbor Firehouse, 8 am - 2 pm
• May 12^th - Stone Harbor Garden Club Plant Sale, Stone Harbor Firehouse, 8 am - 12 pm