SEPTEMBER, 2008 AVALON, NJ:

 

RESIDENTIAL UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (9)

                                                           ORIGINAL           REDUCED          DAYS ON

ADDRESS                                        LIST PRICE          LIST PRICE        MARKET

237 52nd St(3)Bed.,(2)Bth.                 $985,000.                   SAME                     1

251 36th St(5)Bed.,(3)Bth.                 1,199,000.                  SAME                      34

133 23rd St(5)Bed.,(4.5)Bth.              1,850,000.                1,695,000.                  581

6600 Ocean Dr(4)Bed.,(3)Bth.           2,175,000.                1,989,000.                 173

* 308 76th St(5)Bed.,(5)Bth.               1,995,000.                  SAME                     154

23 Pelican Dr(4)Bed.,(2.5)Bth.           2,495,000.                  SAME                     74

4506 Fifth Ave(4)Bed.,(2.5)Bth.        2,950,000.                2,495,000.                  253

178 74th St(4)Bed.,(4)Bth.                  2,750,000.                2,650,000.                  334

63 Heron Dr(4)Bed.,(3)Bth.               6,500,000.                5,995,000.                  807

(*) NEW CONSTRUCTION = 1

 

RESIDENTIAL COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (13)

                                               ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                             LIST PRICE     PRICE          PRICE      DATE          onMkt

1025 Dune(5)Bed.,(3)Bth.     $1,295,000.       $1,095,000.     $950,000.    9/13/08           126

310 77th(4)Bed.,(3)Bth.            1,990,000.         1,695,000.    1,500,000.    9/30/08           258

184 70th(5)Bed.,(2)Bth.            2,850,000.         2,300,000.    1,800,000.    9/2/08             235

188 35th(5)Bed.,(4)Bth.            2,850,000.         2,395,000.    1,925,000.    9/20/08           938

5288 Dune(4)Bed.,(4)Bth.       1,995,000.            SAME       1,995,000.    9/15/08            81

143 38th(5)Bed.,(5)Bth.            2,495,000.            SAME       2,150,000.    9/30/08           179

669 24th(5)Bed.,(2)Bth.            3,500,000.          2,800,000.    2,500,000.   9/13/08           465

* 45 W. 23rd(7)Bed.,(7/2)Bth.  3,275,000.          3,095,000.    2,909,166.   9/20/08           366

* 7599 Sunset(5)Bed.,(4.5)Bth. 3,295,000.            SAME      3,150,000.   9/19/08            49

518 7th (5)bed.,(4/2)Bth.           3,795,000.          3,495,000.   3,300,000.   9/26/08            235

181 67th(4)Bed.,(4)Bth.            3,600,000.              SAME     3,600,000.    9/5/08              47

170 58th(4)Bed.,(3.5)Bth.         4,895,000.           4,695,000.  4,200,000.    9/12/08          1,032

182 60th(5)Bed.,(5/2)Bth.         5,199,000.           4,699,000.  4,425,000.    9/12/08            386

(*) NEW CONSTRUCTION = 2

                                              (41,034,000.)      (37,654,000.)  (34,404,166.)                   (4,397)

Average Original            Average Reduced             Average Sold          Average Days on

List Price = $3,156,461.  List Price = $2,896,461.   Price = $2,646,473.  Market = 338

-         Difference between Original List Price and SOLD Price = (16%)

-         Difference between Original List Price and Reduced Price = (9%)

 

LOTS/LAND UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)

LOTS/LAND COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (1)

                                           ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                         LIST PRICE    PRICE           PRICE        DATE       onMkt

66 W 13th St.-75x110       $1,350,000.      $1,249,000.     $1,175,000.  9/20/08        170

 

COMMERCIAL UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)

COMMERCIAL COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (0)

 

MULTI-FAMILY UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)

MULTI-FAMILY COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (0)

 

CONDO/TOWNHOUSE UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (6)

                                                                         ORIGINAL          REDUCED          DAYS ON

ADDRESS                                                       LIST PRICE        LIST PRICE       MARKET

235 33rd St(4)Bed.,(2.5)Bth. East                        $799,000.               $700,000.                188

700 Ocean Dr(3)Bed.,(2.5)Bth. #F-5                    759,900.                 725,000.                 254

66 E 20th(2)Bed.,(2)Bth. #206                               899,000.                 824,900.                540

2503 Dune(4)Bed.,(3)Bth. #2503                       1,077,500.                    SAME                147

* 375 24th (4)Bed.,(4)Bth. East                           1,595,000.                    SAME                200

2002 Ocean (5)Bed.,(5.5)Bth. North                  2,100,000.                 1,899,000.              157

 

CONDO/TOWNHOUSE COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (6)

                                                             ORIGINAL     REDUCED    SOLD   CLOSING  DAYS

ADDRESS                                           LIST PRICE     PRICE        PRICE     DATE      onMkt

1607 Ocean (3)Bed.,(2)Bth. #F            $539,000.            SAME       $480,000.    9/6/08        95

700 First(2)Bed.,(2)Bth. #402                699,000.           649,000.       575,000.    9/19/08      183

1322 Ocean(3)Bed.,(2)Bth. #12             895,000.           849,900.       800,000.    9/6/08         548

6840 Ocean(5)Bed.,(4)Bth. #6840       1,279,000.        1,099,000.    1,000,000.   9/27/08       203

497 24th(5)Bed.,(4)Bth. East                1,595,000.         1,395,000.    1,275,000.  9/26/08        238

2688 Ocean(4)Bed.,(4)Bth. South       1,774,500.         1,499,500.     1,475,000.  9/3/08         233

                                                         (6,781,500.)         (6,031,400.)  (5,605,000.)                 (1,500)

Average Original            Average Reduced            Average Sold            Average Days on

List Price = $1,130,250.  List Price = $1,005,233.   Price = $934,167.      Market = 250

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

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

 

TOTAL SALE INVENTORY AVALON (AS OF 10/4/2008) = (428)

RESIDENTIAL                                          220

LOTS/LAND                                                 21

COMMERCIAL                                           18

MULTI-FAMILY                                         10

CONDO/TOWNHOUSE                            159