The RJ Soens Group of Compass RE presents the 2022 Fall/Winter edition of Seven Mile Living. This guide has up-to-date real estate market data, available properties for sale, and a holiday event schedule.
SEVEN MILE LIVING
WITH THE
AVALON / STONE HARBOR
FALL/WINTER 2022
2619 Dune Drive, Unit C, Avalon, NJ 08202 | avalonstoneharbor.com | Photo: Monica O’Donoghue, monodon-photography.com
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Dear Friends and Clients,
Animal spirits in 2022 are not what they were in 2021. Economic and political turbulence has made it a trying year for many across the world and has dislocated major markets. However, real estate on the Seven Mile Island has shown stability. There is also good news for those looking to buy for the first time and those considering making a switch within the Island. After nearly a decade of declining inventory, there’s been a notable increase in listings to choose from. So far, we see this as a healthy and unsurprising development for several reasons. The base level was extraordinarily low and there’s been meaningful appreciation in property values over the past several years. Further, it does not appear that the increased inventory is weakening the market, as asking prices are also up this year and inventories are still below 2020 levels (which were historically low). A gauge of market saturation tells the same story. Pending sales as a percentage of active listings, which approximates demand relative to supply, sits at 34% – well above the average of 24% over the previous 5 years. While our complete market data is available on pages 4-7, here are some highlights: • There were 16% fewer transactions in Q3 of ‘22 compared to ‘21 • Average sale prices were up nearly 6% while median prices were down by roughly the same amount
The planning process for our new office at 2743 Dune Drive is well underway and the additional space (nearly triple) will be welcome by all. Look for us there by 2/1/23. We are thrilled with our first year at Compass! Together with our new colleagues we participated in over 30% of the $5.5m+ sales on the island and 45% of those over $7m. At the extreme high end of the market ($9m+) Compass was responsible for seven units, more than twice the next closest agency. We’re also proud of our rental team, who has contributed nearly 60% of Compass’s signed rental listings this fiscal year. Their hard work, expertise and awareness of rental market trends has made them a valuable resource for our clients and fellow team members alike. We hope you’ll stop in to see us on Festive Friday or even sooner! In the meantime, I wish you and your family a healthy and joyous Holiday Season! My group and I are grateful for your friendship and ongoing loyalty. We look forward to working with you in 2022 and beyond!
Thank you and all my best wishes!
RJ Soens 609.602.2267 rjs@soensgroup.com
P.S. If you are looking for a nostalgic and unique gift for the holidays, Avalon Maps offers framed prints of many historic Avalon and Stone Harbor maps. The prints perfectly capture both the continuity and evolution of an island that for generations has meant so much to so many families.
•
Properties took 11% less time to sell
•
Current inventories are up 60% and the median asking price is up 25%
3 LET US BE YOUR PATH TO SEVEN MILE LIVING
Avalon & Stone Harbor
2619 Dune Drive, Unit C, Avalon, NJ 08202 O 609.967.0466 | avalonstoneharbor.com
Photographer: Monica O’Donoghue – monodon-photography.com
Kirk George | 866-493-4665 www.wfhm.com/kirk-george NMLSR ID 404179 Contact me today.
Ready to buy a home? We’re ready to work with you.
Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2021 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801. AS5492080 Expires 12/2022
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ON THE MARKET Q3 2022
5
SOLD
ACTIVE
LISTINGS AVG PRICE
MED PRICE
MED DOM LISTINGS MED PRICE
AVALON
22
$3,775,250
$3,224,500
111
45
$4,495,000
AVALON MANOR
1
$908,000
$908,000
78
0
$ -
STONE HARBOR
13
$3,039,230
$2,575,000
84
17
$3,625,000
STONE HARBOR MANOR 0
$ -
$ -
0
1
$1,199,000
SUBTOTAL
36
$3,429,819
$2,945,000
93
63
$3,995,000
LISTINGS AVG PRICE
MED PRICE
MED DOM LISTINGS MED PRICE
AVALON
0
$ -
$ -
0
2
$2,445,000
AVALON MANOR
0
$ -
$ -
0
0
$ -
STONE HARBOR
0
$ -
$ -
0
5
$4,695,000
STONE HARBOR MANOR 0
$ -
$ -
0
1
$1,149,000
SUBTOTAL
0
0
8
$4,495,000
$ -
$ -
LISTINGS AVG PRICE
MED PRICE
MED DOM LISTINGS MED PRICE
AVALON
1
$4,500,000
$4,500,000
130
0
$ -
STONE HARBOR
0
$ -
$ -
0
2
$2,350,000
SUBTOTAL
1
$4,500,000
$4,500,000
130
2
$2,350,000
LISTINGS AVG PRICE
MED PRICE
MED DOM LISTINGS MED PRICE
AVALON
22
$1,119,227
$772,500
74
25
$2,750,000
AVALON MANOR
0
$ -
$ -
0
0
$ -
STONE HARBOR
7
$1,214,428
$1,150,000
111
5
$925,000
STONE HARBOR MANOR 2
$1,150,000
$1,150,000
94
0
$ -
SUBTOTAL
31
$1,142,709
$1,130,000
83
30
$1,999,500
LISTINGS AVG PRICE
MED PRICE
MED DOM LISTINGS MED PRICE
ALL LISTINGS
68
$2,402,904
$2,106,250
90
103
$3,395,000
FOR STAT PAGES 5-7: *Market data based on multiple listing service and tax records. *If your property is currently listed for sale, please consider this informational and not a solicitation. All information is deemed accurate but not guaranteed.
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Q3 AVERAGE & MEDIAN SOLD PRICES AVALON & STONE HARBOR | ALL CLASSES | INCLUDES MANORS
Q3 NEW & UNDER CONTRACT AVALON & STONE HARBOR | ALL CLASSES | INCLUDES MANORS
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Q3 AVAILABLE PROPERTIES 2014-2022 AVALON & STONE HARBOR | ALL CLASSES | INCLUDES MANORS
YTD PRICE DISTRIBUTION AVALON & STONE HARBOR | SINGLE FAMILY | INCLUDES MANORS
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120 40TH STREET, AVALON, NJ
Welcome to perhaps the most unique and modern home on Seven Mile Island.
Situated on an expansive 100’ X 110’ beachfront site in Avalon’s famed wild dune preserve, this California-inspired home was completely gutted, meticulously refurbished and re-imagined. This is a special opportunity to enjoy the best of beachfront living without compromising on sustainability or luxury. Eco-Friendly amenities: rooftop garden, native plant landscaping, and rainwater recapture and irrigation technology • Yoga deck • Professional gym that can be fully opened or closed to the elements • Infinity pool and spa • Ocean views •
$6,475,000 | UNDER CONTRACT 4 BED | 3 BATH | 2,900+ SQ. FT
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45 W 32ND STREET, AVALON, NJ
Brand new luxury beach house ready for your summer enjoyment.
Centrally located just a short walk to everything Avalon has to offer, this a special opportunity to own a five bedroom, five full bath, two powder room beachblock masterpiece. You and your family will have plenty of room to stretch out among the 3,700 sq.ft. of living space – meticulously designed – on all three levels (w/ 4-stop elevator). There are myriad special amenities which must be seen live to fully appreciate. Contact us for your private tour.
$5,995,000 | ACTIVE 5 BED | 5.2 BATH | 3,700+ SQ. FT
• Beachblock • Ocean views •
In-ground pool w/ Cabana Subzero and Wolf appliances
• •
Centrally located
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46 E. 18TH STREET, AVALON, NJ
Wake up to a beautiful sunrise at this stunning beachblock home.
This house was designed with careful attention by Blaine Steinman Architects and crafted by Ryan Development with emphasis on premium amenities and finishes. Nestled in a quiet neighborhood just steps from a great beach or a short stroll to all the activities of Avalon, the home’s location provides exceptional convenience. Additional features include maintenance-free Hardie Shingle cement fiber siding, an elevator, multiple high-efficiency HVAC systems, custom cabinetry with quartz countertops, a spacious great room with soaring vaulted ceilings, six decks, garage, ample off-street parking and incredible ocean views!
$6,495,000 | ACTIVE 6 BED | 7.2 BATH | 3,600+/- SQ. FT
• Beachblock • Ocean Views • In-ground Pool •
Attached Garage
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$3,995,000 | 5 BED | 5.1 BATH | ACTIVE 274 35TH STREET, AVALON, NJ
New construction in an ideal location on the southern edge of Avalon’s business district. The short stroll to outstanding beaches, boardwalk, shops, dining, recreation, and nightlife will be enjoyed by family and friends of all ages. The design offers a well thought out space featuring a poolside family room, 4 stop elevator, multiple covered porches/sun decks, open kitchen, living room, dining area, heated pool with a landscaped and fully irrigated yard. Don’t miss this opportunity which will be ready for spring 2023!
EXAMPLE OF SIMILAR HOME ILLUSTRATIVE PURPOSES ONLY
• • • • •
40’ X 110’ Lot
New Construction
Great Central Location
In-Ground Pool 4-Stop Elevator
339 45TH PLACE, SEA ISLE CITY, NJ
EAST + WEST UNITS | $2,695,000 EACH | 4 BED | 5.1 BATH | 2,300 SQ. FT | ACTIVE
Don’t miss out on this spectacular new construction, state-of-the-art bayfront townhouse on the most desirable lagoon in Sea Isle City. Enjoy the beach and nightlife of Sea Isle within walking distance, but come home to your quiet cul-de-sac surrounded by many private, single family homes.
• • • •
Bayfront Townhouse Private Elevator Beautiful Views Off-Street Parking
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2310 DUNE DRIVE, AVALON, NJ
$1,675,000 | 3 BED | 3 BATH | 1,688 SQ. FT | ACTIVE
Fabulous two-story townhouse near the bay, beaches, and downtown. The open concept design includes new herringbone hardwood flooring, a gas fireplace, and a kitchen with custom cabinets, granite countertops, and stainless appliances. The upper and lower decks are great places to watch fireworks and enjoy the salt air and ocean breezes. There are two designated parking spaces as well as off-street parking. This building is very well maintained, with two elevators and beautiful landscaping. The owners have never rented, but it is an excellent investment property.
• • • •
2-Story Townhouse Downtown Location
Designated Parking Spaces
Building Elevators (2)
121 15TH STREET, AVALON, NJ
$2,250,000 | 3 BED | 2 BATH | 1,144 SQ. FT | ACTIVE
This one story beach cottage is ideally situated on a 50’ X 110’ lot and just two blocks to the beach and a short walk to downtown, recreation, and the Sport Fishing Pier. From the days of the old, this vintage property has an open floor plan that is spacious to accommodate family and friends. Bring the outside in and relax on the large screened in rear porch. This is a great opportunity for investment (with established rental history) or for development.
• • • •
50’ X 110’ Lot
2 Blocks to Beach
Short Walk to Downtown
Off-Street Parking
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$970,000 | 4 BED | 4.2 BATH | 4,000 SQ. FT | UNDER CONTRACT 2 MARISSA COURT, OCEAN VIEW, NJ
This magnificent home is located in one of Upper Township's most premier neighborhoods. The natural light-filled great room that flows seamlessly into the chef's kitchen is one of the focal points of this home's open concept design. Granite countertops, stainless appliances, and custom cabinetry are featured in the kitchen. The primary bedroom features a sitting area, a large bathtub, and a walk-in closet. The finished basement is a standout of the home, styled after a 1950s diner with a movie theater. A fenced-in yard, outdoor kitchen, and an inground heated gunite pool/spa are among the relaxing features of the backyard.
• • •
0.92 Acre Corner Lot
In-ground Pool
Highly Acclaimed School District
7 LITTLE MILL ROAD, WOODBINE, NJ
$489,900 | 4 BED | 2 BATH | 3,000 SQ. FT | UNDER CONTRACT
Welcome to Walden Puddle! Built in 1928, this timeless log home is situated on a tranquil artesian well-fed pond surrounded by nearly 2.5 acres. The focal point of the interior is the massive 2-story stone great room fireplace that opens up to the living room, office, dining room, and kitchen. The east-facing kitchen w/ views of the pond features a free-standing wood burning stove, center island, granite countertops, breakfast table, and an additional seating area overlooking the glass enclosed Florida room. Oil heat and central air provide for the perfect temperature all year long while the solar panel system offsets energy costs. This home is a one of a kind opportunity to have the best of both worlds: a rural retreat while close to area beaches.
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AVALON HOLIDAY EVENTS
FESTIVAL OF TREES Friday 11/18/22 - 11/26/22
HELEN L. DILLER VACATION HOME FOR BLIND CHILDREN TURKEY TROT 5K AND 1.5 MILE FUN WALK
11/25/22 10AM
Thanksgiving festivities begin with the start of the Festival of Trees. Starting 11/18/22, shoppers can cross off items on their Christmas list while visiting stores throughout town. While in stores, you’ll see a variety of beautifully decorated trees and wreaths of varying themes for you to bid on! Bidders can preview and place bids online or via mobile app throughout the length of the event. Bidding will run through Saturday afternoon, Nov. 26, and mobile app bidders will be alerted of their winnings at 2pm.
Burn those turkey calories for a great cause with this family-fun run through Avalon, benefiting the Helen L. Diller Vacation Home for Blind Children. Awards for top runners in each category, and best team costume! Link: https://dillerblindhome.org/article/turkey- trot-avalon-nj
Venue: Avalon Community Hall
Address: 3001 Avalon Ave - Avalon NJ, 08202
Link: http://visitavalonnj.com
Venue: Avalon Shopping District
FESTIVE FRIDAY
SNOWFEST SATURDAY
Friday 11/25/22
11/26/22
Thanksgiving is over, now it’s time to get festive! Stroll Dune Drive while shopping in the many stores and boutiques, and enjoy live music and children’s performances throughout the day!
Make plans to return to Avalon through Saturday for great shopping specials and more live music, performances, and children’s activities throughout town!
Link: http://visitavalonnj.com
Link: http://visitavalonnj.com
Venue: Avalon Shopping District
Venue: Avalon Shopping District
Photo: Courtesy of 7 Mile Times, sevenmiletimes.com
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STONE HARBOR HOLIDAY EVENTS
ISLAND HOLIDAY WEEKEND
ISLAND HOLIDAY WEEKEND
11/25/22
11/26/22
Holiday Market – Water Tower Lot 11:00 am – 5:00 pm Pet Parade – 200 block 96th Street 1:00 pm Tree Lighting – 200 block 96th Street 6:00 pm Chamber of Commerce Hospitality Night Business District, 6:00 pm – 9:00 pm
Kids’ Downtown Holiday Dash – 96th Street Registration 9:00 am, Dash starts at 10:00 am Holiday Market – Water Tower Lot 11:00 am – 4:00 pm Caroling Under the 96th Street Clock 5:00 pm Christmas Parade Route: Third Ave from 107th Street, right onto 96th Street to Second Ave - 6:30 pm
Photo: Courtesy of Ted Kingston
2619 Dune Drive, Unit C Avalon, NJ 08202
EXPERIENCE MORE
RJ SOENS GROUP
O 609.967.0466 avalonstoneharbor.com
Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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