Holly Rennie
 
Open House Link
 



Stone Harbor Festival of Light Boat Parade
Come see the decorated boats gathering at the Stone Harbor Yacht Club this Saturday, August 11th at 8:30 pm. The boats will then travel south to Paradise Bay. From the bay the parade will travel north past Stone Harbor's entire bayfront. The judging is at the Yacht Club with a party to follow. If you don't have a boat or dock, you can view the parade from the 83rd Street fishing pier, the bulkhead at the Municipal Marina (81st Street), or any street that ends at the bay. For cars driving into or out of Stone Harbor, avoid the 96th Street bridge openings.

 
Festival of Lights

New Area Code - Ten Digit Dialing
Beginning on August 18th, a new 640 area code is being overlaid on top of the 609 geographic footprint. The update will require ten-digit dialing for local calls within the 609 and 640 area codes. For calls to other area codes, a "1" must be added prior to the area code.

Flood Insurance Extension to November 30th
The National Flood Insurance Program will continue to renew or issue new insurance for four more months with an extension passed by the U.S. Senate July 31st. According to the National Association of Realtors president, Elisabeth Mendenhall, "the program is in desperate need of reforms to make the program solvent and sustainable for the long term." NAR continues to lobby with the government to improve the program.

Top 3 Reasons to Visit Seven Mile Island in September
The rental season does not end after Labor Day. According to our rental specialist, Andrea Gill, September is prime time for Avalon and Stone Harbor. Here are Andrea's top 3 reasons to rent in September:

  1.   Beautiful weather, warmer water, and far less crowds
  2.   No beach tags required
  3.   Seasonal rates give you more house for your budget
Call Andrea today and come to the shore in September.

Market Trend Update for June
Happy August! As summer rounds the final corner, buyer interest is almost frenetic! We wish we had the inventory to support it. According to the MLS metrics, July will be the strongest month of the year, the first month for the island to see 40 sales, surpassing 2017 sales. The second quarter saw an increase of 9% - a turnaround after the first quarter decrease of 38%. Multiple offers are a regular course of events. Homes selling within days of listing are a result of agents being on top of listings for the buyers they are working for. Properties are often selling before they hit the MLS.

Inventory continues to be our challenge, with only 26% of our available single homes priced under $2.0 million island-wide. Stone Harbor sits with 30% of the single homes while Avalon has 70%. But the key is where these homes sit in price range.

The majority of the buyers are looking in the $2.0 million range or under. Since January 1st, of the 128 single homes sold, 44% were sales at $2.0M or under. We have less than a 3-month supply of homes in this range as of August 3, 2018. 33% of our sales were in the $2.1-$2.9M range where our inventory levels are only at 25% - barely a 5-month supply of homes to sell! Since January 1st, 7% of our sales were in the $4.0-$6.0M range - where we have 17% of our listings; 17% of our sales were in the $3.0-$3.9M range where we have 21% of our available homes.

Last month your Ferguson Dechert sales team sold 100% more homes than our closest competitor and more homes than the combined sales of the next four agencies. In fact we participated in 50% of the sales on the entire island and 69% of the sales in Avalon! Our team is rocking the Seven Mile Island real estate world!

REAL ESTATE LISTINGS-AUGUST 2018
PRICE POINT PERCENTAGE OF INVENTORY
$2.0 MIL AND UNDER 26%
$2.1-$2.99 25%
$3.0-$3.99 21%
$4.0-$6.0 17% (35% Bayfront, 35% Beach Block, 23% Ocean Front)
$6.095-$10.0 MIL 11% (Bayfront; 71% Ocean Front)


The townhome market on Seven Mile Island is on fire, with first-time buyers looking to townhomes as an alternative to the single homes that are not available. On August 3rd, there are only 23 townhomes for sale - 18 in Avalon. 6 of these homes are side-by-side bayfront homes priced at $1.5 -$2.4 million. The inside townhomes are very limited (6 in Avalon and 2 in Stone Harbor) to only a handful in the $800K-$1.0M price range. Side-by-side townhomes with pools are now trading in the $1.4M range, with more to be built in the coming months. Island-wide, we have seen 44 sales of townhomes since January 1st - currently, we have less than a 3-month supply on hand!!

The moral of this story is plain, if you are a seller list your home for sale now while the buyers are here in town. Rates are attractive, and inventory is low. Your home will stand out and sell! If it's not time for you, please share this update with someone you know. They may thank you for the information. If you are listed for sale and not seeing showings or offers, it's the price. If you are a buyer, call me to keep my eyes and ears open for new opportunities, even before they hit the market. My office lists and sells most of the island's homes so chances are YOUR home will be listed by our team. If you are not a buyer tell someone you know who is or thinking of selling. They will be happy to hear there is someone who has their interests in mind.

If I can help you or anyone you know pleas give me a call.

Thanks and have a great August!


THIS MONTH'S MARKET TRENDS


Call to make your plans to come to Seven Mile Island!
Call us today 609-967-0289.

 
Early Morning Beach
"You only live once, but if you do it right, once is enough"
-- Mae West
 
Featured Listing
 
4351 Ocean Drive, Avalon, NJ 08202
4351 Ocean Drive, Avalon, NJ 08202
 
 
Featured Vacation Rentals
 
2445 Avalon Avenue, Avalon, NJ 08202
2445 Avalon Avenue C-6, Avalon, NJ 08202
 
6428 Ocean Drive, Avalon, NJ 08202
6428 Ocean Drive - #1, Avalon, NJ 08202
 
New Listings
5499 Dune Drive , Avalon, New Jersey, 08202   93 E 17th , Avalon, New Jersey, 08202
100 115th ,Stone Harbor, New Jersey, 08247   23 Heron , Avalon, New Jersey, 08202
8808 1st ,Stone Harbor, New Jersey, 08247   1 107th ,Stone Harbor, New Jersey, 08247
94 E 14th , Avalon, New Jersey, 08202   4385 Fourth Avenue , Avalon, New Jersey, 08202
128 109th Street ,Stone Harbor, New Jersey, 08247   2689 Avalon , Avalon, New Jersey, 08202
15 94th ,Stone Harbor, New Jersey, 08247   119 106th ,Stone Harbor, New Jersey, 08247
Sold Properties
 
 
7800 Dune Drive, $265,000, SOLD IN-HOUSE
MLS# 180634
  700 First Avenue, $565,000, SOLD
MLS#: 179416
 
1100 Ocean Drive, $975,000, SOLD IN-HOUSE
MLS#: 180920
  294 50th Street, $1,107,000, SOLD IN-HOUSE
MLS#: 180052
 
161 31st Street, $1,250,000, SOLD IN-HOUSE
MLS#: 182349
  138 18th Street, $1,275,000, SOLD IN-HOUSE
MLS#: 180905
 
148 18th Street, $1,275,000, SOLD IN-HOUSE
MLS#: 180906
  343 92nd Street, $1,437,500, SOLD
MLS#: 178111
 
11001 Second Avenue, $1,500,000, SOLD
MLS#: 181469
  312 42nd Street, $1,550,000, SOLD
MLS#: 178388
 
813 Sunrise Drive, $1,700,000, SOLD
MLS#: 181138
  218 118th Street, $1,790,000, SOLD
MLS#: 178785
 
Upcoming Events
 
  • August 16th - Children's Mini Event: Mr. Magico, Avalon Elementary School, 11 am
  • August 16th - Thursdays on Dune Concert - Jumper, Veterans Plaza, 5:30 pm activities, 7 pm concert
  • August 17th - Recreation Dept. Sports, 8th - 10th St Fields, Soccer 10-11 am, Baseball 11 am - noon
  • August 17th - Sand Art Day, Avalon Community Hall, 10-11:30 am
  • August 18th - Bay Atlantic Symphony Concert, Avalon Elementary School, 7 pm
  • August 18th - Stone Harbor Bird Sanctuary Tours, Egret Espy Trail Entrance, 10 - 11 am
  • August 19th - Stone Harbor Farmers Market, every Sunday to Labor Day, 95th Street and Second Ave, 8 am - 12:30 pm
  • August 19th - Stone Harbor Bird Sanctuary Tours, Egret Espy Trail Entrance, 10 - 11 am
  • August 20th - Stone Harbor Family Fun Night, Stone Harbor Recreation, 7 - 7:45 pm
  • August 20th Summer Reading Program Monday Funday, Avalon Free Public Library, 10 am
  • August 20th - Recreation Dept. Sports, 8th - 10th St Fields, Soccer 10-11 am, Baseball 11 am - noon
  • August 21st - Children's Mini Event: Field Day, Avalon Elementary School, 11 am
  • August 21st - "Cars 3" Avalon's Beach Movies, 30th St and the beach, dusk
  • August 21st - Tuesdays at the Tower, The Seabillys - Classic Rock, 95th St. Water Tower Plaza, 7 - 8:30 pm
  • August 22nd - Recreation Dept. Sports, 8th - 10th St Fields, Soccer 10-11 am, Baseball 11 am - noon
  • August 22nd - LEGO Club, Avalon Free Public Library, 10 am
  • August 22nd - Cornhole Nights, Stone Harbor Recreation, 7 - 8:30 pm
  • August 22nd - Senior Fun Day! Bridge & Card Games, American Legion Post, 1 - 3 pm
  • August 23rd - Children's Mini Event: Fish Tales and Ocean Oddballs, Avalon Elementary School, 11 am
  • August 23rd - Thursdays on Dune Concert - Robert Eric (Bill Joel Tribute), Veterans Plaza, 5:30 pm activities, 7 pm concert
  • August 24th - Recreation Dept. Sports, 8th - 10th St Fields, Soccer 10-11 am, Baseball 11 am - noon
  • August 24th - Gaming @ AFPL, Avalon Free Public Library, 10 am
  • August 25th - Stone Harbor Sidewalk Sale, 96th Street Business District, 9am - 7 pm
  • August 25th - Stone Harbor Bird Sanctuary Tours, Egret Espy Trail Entrance, 10 - 11 am
  • August 26th - Stone Harbor Farmers Market, every Sunday to Labor Day, 95th Street and Second Ave, 8 am - 12:30 pm
  • August 26th - Stone Harbor Bird Sanctuary Tours, Egret Espy Trail Entrance, 10 - 11 am
  • August 26th - Tim Kerr Charities Cedar Island 5K Swim, Avalon Yacht Club, 8:25 am
  • August 27th Summer Reading Program Monday Funday, Avalon Free Public Library, 10 am
  • August 27th - Stone Harbor Family Fun Night, Stone Harbor Recreation, 7 - 7:45 pm
  • August 28th - Tuesdays at the Tower, Never Break the Chain - Songs of Fleetwood Mac, 95th St. Water Tower Plaza, 7 - 8:30 pm
  • August 29th - LEGO Club, Avalon Free Public Library, 10 am
  • August 29th - Cornhole Nights, Stone Harbor Recreation, 7 - 8:30 pm
  • August 29th - Senior Fun Day! Bridge & Card Games, American Legion Post, 1 - 3 pm
  • August 31st - Gaming @ AFPL, Avalon Free Public Library, 10 am
  • September 1st - War at the Shore Touch Football Tournament, Stone Harbor Rec Field, 9 am - 5 pm
  • September 1st - Tim Kerr Charities Splash N' Dash, Avalon Community Hall, Ages 7-15, 6:30 pm
  • September 2nd - Tim Kerr Charities 7 Mile Island Run and 5K Run/Walk, Avalon Community Hall, 8:30 am
  • September 2nd - Stone Harbor Farmers Market, every Sunday to Labor Day, 95th Street and Second Ave, 8 am - 12:30 pm
  • September 7-9 - Avalon Chamber End-of-Summer Shop Hop, Avalon Shopping District
  • September 8th - Surf Fishing Tournament, Avalon Community Hall, Registration 6 am, Start 7 am
  • September 8th - Get In Gear Bike & Stroll Experience, 9 am - 10 pm, Stone Harbor Chamber of Commerce
  • September 8th - Helen L. Diller Vacation Home for Blind Children Barefoot Ball, Windrift Hotel Resort, 5-9 pm
  • September 12th - Senior Fun Day! Bridge & Card Games, American Legion Post, 1 - 3 pm
  • September 15th - 23rd Annual Nun's Beach Surf Contest, 111th Street and the Beach, 7 am - 11:59 pm
  • September 15th - Big Band Dance: Tony De Luca, Avalon Community Hall, 7 pm
 
Holly Rennie
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