2008 YEAR END SEA ISLE CITY, NJ:

 

CONDO/TOWNHOUSE:

              Average ORIGINAL     Average REDUCED     Average SOLD     Average DAYS

              List Price                         List Price                       Price                      on Market

1ST QTR.   $ 672,682.                      $ 632,124.                     $ 591,517.                251

2ND QTR.     685,687.                         663,365.                        628,432.                228

3RD QTR.     738,586.                         689,819.                        651,348.                223

4TH QTR.      608,338.                        555,362.                        513,607.                155

                  (2,705,293.)                     (2,540,670.)                 (2,384,904.)            (857)

 

AVERAGES: $ 676,323.                 $ 635,167.                    $ 596,226.               214

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

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

 

1ST QTR. CONDO/TOWNHOUSE SALES = 48

2ND QTR. CONDO/TOWNHOUSE SALES = 58

3RD QTR. CONDO/TOWNHOUSE SALES = 29

4TH QTR. CONDO/TOWNHOUSE SALES = 25

TOTAL CONDO/TOWNHOUSE SALES = (160)

-         FORTY-ONE (45) NEW CONSTRUCTION UNITS

 

RESIDENTIAL:

                   Average ORIGINAL     Average REDUCED     Average SOLD   Average DAYS

                   List Price                        List Price                        Price                     on Market

1ST QTR.   $ 1,025,000.                     $ 961,633.                       $ 837,667.                     157

2ND QTR.        810,833.                        795,750.                          705,250.                      246

3RD QTR.        993,611.                         958,056.                          877,222.                     281

4TH QTR.        456,333.                         456,333.                          366,667.                       61

                    (3,285,777.)                       (3,171,772.)                    (2,786,806.)                (745)

 

AVERAGES:  $ 821,444.                    $ 792,943.                       $ 696,701.                   186

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

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

 

1ST QTR. RESIDENTIAL SALES = 2

2ND QTR. RESIDENTIAL SALES = 7

3RD QTR. RESIDENTIAL SALES = 5

4TH QTR. RESIDENTIAL SALES = 2

TOTAL RESIDENTIAL SALES = (16)

                                                                TWO (2) NEW CONSTRUCTION HOMES

  

 

 

 

Sea Isle City - PAST YEAR-END COMPARISONS:

 

CONDO-

TOWNHOUSE:                            2005                  2006                 2007                           2008

 

TOTAL SALES:                           221                     136                   214                             160

 

NEW CONSTRUCTION UNITS:   51                     59                    95                               45

 

AVERAGE SELLING PRICE: $ 786,696.        $ 798,974.       $ 743,963.             $ 596,226.

 

% SELLING PRICE TO LIST PRICE:  6%        10%                    13%                       12%

 

TOTAL SOLD VOLUME:    $ 173,859,881.    $ 108,604,383.   $ 163,436,945.    $ 95,202,375.

 

AVERAGE DAYS ON MARKET:  194                 205                        229                         214

 

RESIDENTIAL:                           2005                   2006                    2007                          2008

 

TOTAL SALES:                              25                       14                        11                              16

 

NEW CONSTRUCTION HOMES:  -0-                    3                          1                                2

 

AVERAGE SELLING PRICE:   $ 918,796.        $ 998,857.         $ 1,003,182.           $ 696,701.

 

% SELLING PRICE TO LIST PRICE:  14%         8%                      12%                       15%

 

TOTAL SOLD VOLUME:      $ 22,969,900.      $ 13,984,000.    $ 11,035,000.     $ 14,043,000.

 

AVERAGE DASY ON MARKET:   216                   195                     159                         186