JULY, 2008 – AVALON, NJ:

 

RESIDENTIAL – UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (7)

                                                          ORIGINAL          REDUCED          DAYS ON

ADDRESS                                        LIST PRICE        LIST PRICE        MARKET

1025 Dune(5)Bed.,(3)Bth.                $1,295,000.            $1,095,000.             73

133 23rd (5)Bed.,(4.5)Bth.                   1,850,000.              1,749,000.            522

5288 Dune(4)Bed.,(4)Bth.                   1,995,000.                SAME               15

* 261 75th (5)Bed.,(6.5)Bth.                 2,750,000.             2,650,000.            197

2668 Ocean(5)Bed.,(5.5)Bth.               2,995,000.             2,695,000.            447

181 67th(4)Bed.,(4)Bth.                        3,600,000.                SAME                1

182 60th(5)Bed.,(5/2)Bth.                     5,199,000.              4,699,000.            341

(*) NEW CONSTRUCTION = 1

 

RESIDENTIAL – COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (2)

                                                ORIGINAL    REDUCED    SOLD    CLOSING    DAYS

ADDRESS                              LIST PRICE    PRICE         PRICE      DATE       onMkt

221 43rd(3)Bed.,(1.5)Bth.         $1,150,000.     $999,999.      $929,000.   7/15/08        375

198 77th(4)Bed.,(3.5)Bth.            2,595,000.    2,345,000.    2,100,000.   7/25/08        667

                                                   (3,745,000.)  (3,344,999.)  (3,029,000.)                    (1,042)

Average Original               Average Reduced             Average Sold             Average Days on

List Price = $1,872,500.    List Price = $1,672,499.    Price = $1,514,500.    Market = 521

-         Difference between Original List Price and SOLD Price = (19%)

-         Difference between Original List Price and REDUCED Price = (11%)

 

LOTS / LAND – UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (0)

LOTS / LAND – COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (0)

 

COMMERCIAL – UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (0)

COMMERCIAL – COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (0)

 

MULTI-FAMILY – UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (0)

MULTI-FAMILY – COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (0)

 

CONDO/TOWNHOUSE – UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (17)

                                                                         ORIGINAL          REDUCED          DAYS ON

ADDRESS                                                      LIST PRICE         LIST PRICE       MARKET

“THE NEW OCEANVIEW CONDOMINIUM PROJECT” – The renovation of the Avalon Inn.

7929 Dune (1)Bed.,(1)Bth. #112                    $305,990.                  SAME                      0

7929 Dune (1)Bed.,(1)Bth. #212                      319,900.                  SAME                      0

7929 Dune (1)Bed.,(1)Bth. #101                      319,900.                  SAME                     -2

7929 Dune (1)Bed.,(1)Bth. #207                      330,000.                  SAME                       0

7929 Dune (1)Bed.,(1)Bth. #201                      339,900.                  SAME                      13

7929 Dune (1)Bed.,(1)Bth. #117                      339,990.                  SAME                      13

 

condo/townhouse sales continued……………….

7929 Dune (1)Bed.,(1)Bth. #307                      359,990.                 349,900.                     0

7929 Dune (2)Bed.,(1)Bth. #206                      379,990.                   SAME                      4

7929 Dune (1)Bed.,(1)Bth. #116                      379,990.                  329,990.                     54

7929 Dune (2)Bed.,(1)Bth. #306                      389,990.                   SAME                       31

7929 Dune (1)Bed.,(1)Bth. #315                      399,990.                   SAME                       31

7929 Dune (1)Bed.,(1)Bth. #314                      419,990.                   SAME                       21

 

1607 Ocean(3)Bed.,(2)Bth. #F                         539,000.                   SAME                       57

7901 Ocean(3)Bed.,(2)Bth. #1                         669,000.                   599,000.                     50

4 Marine Way(3)Bed.,(3)Bth. #4                     750,000.                   739,000.                     91

326 41st(5)Bed.,(3)Bth. West                         1,050,000.                   849,900.                    655

* 377 24th(4)Bed.,(4)Bth. West                      1,595,000.                    SAME                      152

(*) NEW CONSTRUCTION = (1)

 

CONDO/TOWNHOUSE – COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (2)

                                                              ORIGINAL    REDUCED    SOLD    CLOSING DAYS

ADDRESS                                           LIST PRICE    PRICE         PRICE     DATE      onMkt

236 25th(5)Bed.,(4)Bth. West               $890,000.          $779,000.     $700,000.  7/18/08         196

286 34th(5)Bed.,(3.5)Bth.                       969,000.           929,000.        820,000.  7/11/08          177

                                                              (1,859,000.)      (1,708,000.)  (1,520,000.)                  (373)

Average Original             Average Reduced             Average Sold            Average Days on

List Price = $929,500.      List Price = $854,000.       Price = $760,000.     Market = 187

 

-         Difference between Original List Price and SOLD Price = (18%)

-         Difference between Original List Price and REDUCED Price = (8%)

 

 

TOTAL AVALON SALE INVENTORY (AS OF 8/4/2008) = (443)

RESIDENTIAL                                                225

LOTS / LAND                                                   20

COMMERCIAL                                               17

MULTI-FAMILY                                             10

CONDO/TOWNHOUSE                                  171             

 

 

 

 

 

 

 

 

 

 

 

 

 

AUGUST, 2008 – AVALON, NJ:

 

RESIDENTIAL – UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (14)

                                                          ORIGINAL          REDUCED          DAYS ON

ADDRESS                                       LIST PRICE         LIST PRICE        MARKET

680 Third (4)Bed.,(3)Bth.                 $1,400,000.            $1,100,000.             199

635 7th Street(4)Bed.,(2)Bth.              1,385,000.               1,190,000.             188

63 W. 29th Street(4)Bed.,(3.5)Bth.     1,795,000.               1,495,000.              552

310 77th Street(4)Bed.,(3)Bth.            1,990,000.               1,695,000.              223

35 E. 12th Street(5)bed.,(3.5)Bth.       1,790,000.                  SAME                 59

2289 Avalon(5)Bed.,(3.5)Bth.            2,199,000.               1,999,000.             190

7389 Dune(4)Bed.,(4)Bth.                  2,395,000.                  SAME                 68

601 24th Street(5)Bed.,(2/3)Bth.         2,395,000.                  SAME                 202

188 35th Street(5)Bed.,(4)Bth.            2,850,000.                2,395,000.             904

23 Pelican(4)Bed.,(2.5)Bth.                2,495,000.                   SAME                32

143 38th Street(5)Bed.,(5)Bth.            2,495,000.                   SAME                148

* 7599 Sunset(5)Bed.,(4.5)Bth.          3,295,000.                   SAME                12

189 63rdStreet(5)Bed.,(2)Bth.            3,350,000.                   SAME                 80

518 Yacht Club Dr(5)Bed.,(4/2)Bth.  3,795,000.                 3,495,000.             191

(*) NEW CONSTRUCTION = 1

 

RESIDENTIAL – COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (4)

                                               ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                             LIST PRICE    PRICE          PRICE         DATE       onMkt.

233 37th St(4)Bed.,(3)Bth.      $  995,000.           SAME           $775,000.    8/27/08      322

2668 Ocean(5)Bed.,(5.5)Bth.   2,995,000.        2,695,000 .      2,300,000.    8/30/08      482

* 261 75th(5)Bed.,(6.5)Bth.      2,750,000.        2,650,000.       2,450,000.    8/1/08        209

* 7558 Dune(5)Bed.,(4/2)Bth.  2,895,000.           SAME         2,675,000.     8/22/08     196

(*) NEW CONSTRUCTION = 2

                                                (9,635,000.)       (9,235,000.)   (8,200,000.)                   (1,209)

Average Original                Average Reduced            Average Sold          Average Days on

List Price =  $2,408,750.        List Price = $2,308,750.    Price = $2,050,000.   Market = 302

-         Difference between ORIGINAL List Price and SOLD Price = (15%)

-         Difference between ORIGINAL List Price and REDUCED Price = (4%)

 

VACANT LOTS/LAND – UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (0)

VACANT LOTS/LAND – COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (0)

 

COMMERCIAL – UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (0)

COMMERCIAL – COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (0)

 

MULTI-FAMILY – UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (0)

MULTI-FAMILY – COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (0)

 

 

CONDO/TOWNHOUSE – UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (10)

                                                          ORIGINAL          REDUCED          DAYS ON

ADDRESS                                        LIST PRICE        LIST PRICE        MARKET

“THE OCEANVIEW CONDOMINIUM RENOVATION PROJECT” (nee Avalon Inn)

7929 Dune(1)Bed.,(1)Bth. #107        $305,000.                SAME                        28

7929 Dune(1)Bed.,(1)Bth. #106          305,000.                SAME                        37

7929 Dune(1)Bed.,(1)Bth. #115          329,990.                SAME                        1

7929 Dune(1)Bed.,(1)Bth. #110          334,990.                SAME                         22

7929 Dune(1)Bed.,(1)Bth. #312          364,990.                SAME                         36

7929 Dune(1)Bed.,(1)Bth. #215          389,990.                379,990.                      126

7929 Dune(1)Bed.,(1)Bth. #301          399,990.                 SAME                         1

 

2445 Avalon(3)Bed.,(1.5)Bth. #5        795,000.                695,000.                       322

1322 Ocean(3)Bed.,(2)Bth. #12           895,000.                849,900.                       511

6840 Ocean(5)Bed.,(4)Bth. W           1,279,000.             1,099,000.                      174

 

CONDO/TOWNHOUSE – COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (7)

                                                         ORIGINAL     REDUCED     SOLD     CLOSING   DAYS

ADDRESS                                      LIST PRICE        PRICE        PRICE       DATE      onMkt

7800 Dune(1)Bed.,(1)Bth. #125      $275,000.           $265,000.      $265,000.     8/1/08         200

7901 Ocean(3)Bed.,(2)Bth. #7          669,000.             599,000.        549,000.     8/12/08        82

4 Marine Way(3)Bed.,(3)Bth. #4      750,000.             739,000.        700,000.     8/15/08        123

2128 Harbor(5)Bed.,(4)Bth. North    949,900.             819,900.        800,000.    8/29/08         483

326 41st(5)Bed.,(3)Bth. West          1,050,000.             849,900.        830,000.    8/8/08           666

377 24th(4)Bed.,(4)Bth. West          1,595,000.             SAME        1,525,000.    8/15/08         186

1100 Ocean(3)Bed.,(2)bth. #212     1,695,000.             SAME        1,650,000.    8/26/08         76

                                                       (6,983,900.)         (6,562,800.) (6,319,000.)                    (1,816)

Average Original          Average Reduced         Average Sold         Average Days on

List Price = $997,700.     List Price = $937,543.    Price = $902,714.     Market = 259

-         Difference between ORIGINAL List Price and SOLD Price = (10%)

-         Difference between ORIGINAL List Price and REDUCED Price = (6%)

 

TOTAL AVALON SALE INVENTORY(AS OF 9/9/2008) = 443

RESIDENTIAL                                            222

LOTS/LAND                                                 21

COMMERCIAL                                           18

MULTI-FAMILY                                         10

CONDO/TOWNHOUSE                              172