2008 - YEAR END AVALON, NJ:

 

RESIDENTIAL:

                   Average Original          Average Reduced          Average Sold          Average Days

                   List Price                       List Price                        Price                         on Market

1ST QTR.   $ 2,001,137.                    $ 1,769,702.                    $ 1,549,630.                    410

2ND QTR.     2,548,330.                       2,308,486.                       2,138,387.                    349

3RD QTR.     2,483,845.                       2,303,369.                       2,066,837.                    382

4TH QTR.     1,833,287.                       1,739,201.                       1,595,515.                    276

                     (8,866,599.)                   (8,120,758.)                    (7,350,369.)                  (1,417)

 

AVERAGES:  $ 2,216,650.              $ 2,030,189.                     $ 1,837,592.                   354

-         Difference between ORIGINAL List Price and SOLD Price = (17%)

-         Difference between ORIGINAL List Price and REDUCED Price = (9%)

 

1ST QTR. RESIDENTIAL SALES = 25

2ND QTR. RESIDENTIAL SALES = 36

3RD QTR. RESIDENTIAL SALES = 20

4TH QTR. RESIDENTIAL SALES = 19 

TOTAL RESIDENTIAL SALES = (100)

                                                                   THIRTEEN (13) NEW CONSTRUCTION HOMES

 

CONDO/TOWNHOUSE:

                  Average Original          Average Reduced          Average Sold          Average Days

                  List Price                       List price                        Price                        on Market

1ST QTR.  $ 821,733.                       $ 715,534.                        $ 645,967.                      242

2ND QTR.  1,077,933.                          925,388.                          873,869.                      373

3RD QTR.  1,109,150.                          932,259.                          923,683.                      232

4TH QTR.     934,509.                          904,407.                          837,482.                      197

                  (3,943,325.)                     (3,477,588.)                     (3,281,001.)                (1,044)

 

AVERAGES:  $ 985,831.                 $ 869,397.                        $ 820,250.                     261

-         Difference between ORIGINAL List Price and SOLD Price = (17%)

-         Difference between ORIGINAL List Price and REDUCED Price = (12%)

 

1ST QTR. CONDO/TOWNHOUSE SALE = 6

2ND QTR. CONDO/TOWNHOUSE SALES = 16

3RD QTR. CONDO/TOWNHOUSE SALES = 15

4TH QTR CONDO/TOWNHOUSE SALES = 16
TOTAL CONDO/TOWNHOUSE SALES = (53)

                                                      TWO (2) NEW CONSTRUCTION TOWNHOUSE UNITS

 

 

 

AVALON PAST YEAR-END COMPARISONS:

 

RESIDENTIAL:                             2005                    2006                 2007                     2008

 

TOTAL SALES:                             159                       106                    92                         100

 

AVERAGE LIST PRICE:          $ 2,230,949.      $ 2,548,689,      $ 2,346,074.      $ 2,216,650.

 

AVERAGE SELLING PRICE: $ 2,132,769.      $ 2,383,793.      $ 2,034,541.      $ 1,837,592.

 

% SELLING PRICE TO LIST PRICE: 5%              7%                  13%                     17%

 

AVERAGE DAYS ON MARKET     174                    212                   219                        354

 

CONDO-

TOWNHOUSE:                               2005                    2006                  2007                     2008

 

TOTAL SALES:                               107                       41                       58                          53

 

AVERAGE LIST PRICE:       $ 745,276.             $ 919,445.          $ 939,442.          $ 985,831.

 

AVERAGE SALE PRICE:      $ 745,846.             $ 883,707.          $ 844,932.          $ 820,250.

 

% SALE PRICE TO LIST PRICE:    100%              4%                     10%                     17%

 

AVERAGE DAYS ON MARKET      157                   200                      242                       261

 

 

AVALON TOTAL SALES:            2005                    2006                    2007                    2008

(ALL CLASSES)                                280                      152                     170                      168

RESIDENTIAL

LOTS/LAND

COMMERCIAL

MULTI-FAMILY

CONDO/TOWNHOUSE

 

NOTE: All sale statistics are based upon information submitted to our Greater Cape May County Board of Realtors MLS Service.