APRIL, 2008 – AVALON, NJ.

 

RESIDENTIAL – UNDER CONTRACT: 4/1/2008 TO 4/30/2008 = (10)

                                                 ORIGINAL            REDUCED                DAYS ON

ADDRESS                               LIST PRICE          LIST PRICE              MARKET

265 17TH St. (2)Bed.,(1)Bth.    $779,000.                 $749,000.                          88

213 36th. (4)Bed;.,(1.5)Bth.        899,900.                   875,000.                          91

233 37th (4)Bed.,(3)Bth.             995,000.                    SAME                           173

303 75th (4)Bed.,(2)Bth.          1,495,000.                1,399,000.                         257

547 42nd (4)Bed.,(2.5)Bth.       2,900,000.                2,295,000.                         230

198 77th (4)Bed.,(3.5)Bth.       2,595,000.                2,345,000.                          564

286 76th (5)Bed.,(5)Bth.          2,749,000.                2,599,000.                          418

503 42nd (4)Bed.,(3)Bth.          2,995,000.               2,795,000.                           525

170 58th (4)Bed.,(3.5)Bth.       4,895,000.               4,695,000.                            897

 

RESIDENTIAL – COMPARABLE SALES: 4/1/2008 TO 4/30/2008 = (12)

                                              ORIGINAL    REDUCED    SOLD    CLOSING    DAYS

ADDRESS                           LIST PRICE    PRICE          PRICE     DATE        onMkt

238 36th (3)Bed.,(2)Bth.       $875,000.          SAME           $825,000.   4/25/08        161

246 35th (4)Bed.,(3)Bth.       1,149,000.       1,000,000.         975,000.   4/18/08        216

181 7th (3)Bed.,(2.5)Bth.      1,299,900.          995,000.         979,000.   4/12/08        332

222 56th (2)Bed.,(1.5)Bth.    1,325,000.        1,199,000.      1,100,000.  4/28/08        201

264 7th (4)Bed.,(4)Bth.         1,750,000.        1,299,000.      1,250,000.  4/05/08        901

65 W. 18th (5)Bed.,(3)Bth.   1,695,000.        1,450,000.      1,360,000.  4/22/08        464

* 274 65th (5)Bed.,(4/2)Bth. 3,295,000.        2,995,000.      2,775,000.  4/17/08        251

* 312 58th (5)Bed.,(5/2)Bth. 3,199,000.        2,995,000.      2,775,000.  4/11/08        349

74 W. 27th (7)Bed.,(7)Bth.   3,279,000.        2,995,000.      2,791,550.  4/21/08        213

84 E. 16th (4)Bed.,(4)Bth.     4,295,000.        3,990,000.      3,800,000.  4/24/08        252

35 Flamingo (5)Bed.,(5/2)Bth. 5,500,000.    3,950,000.      3,850,000.  4/25/08        522

6909 Dune (6)Bed.,(6/2)Bth.    4,995,000.       SAME         4,150,000.  4/1/08          856

(*) NEW CONSTRUCTION = 2

                                               (32,656,900.)    (27,863,000.) (26,630,550.)               (4,718)

 

Average Original                 Average Reduced              Average SOLD           Average Days

List Price = $2,721,408.       List Price = $2,321,917.    Price = $2,219,212.     on Mkt = 393

 

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

Difference between Original List Price and REDUCED Price = (15%)

 

LOTS / LAND – UNDER CONTRACT: 4/1/2008 TO 4/30/2008 = (0)

LOTS / LAND – COMPARABLE SALES: 4/1/2008 TO 4/30/2008 = (0)

 

COMMERCIAL – UNDER CONTRACT: 4/1/2008 TO 4/30/2008 = (0)

COMMERCIAL – COMPARABLE SALES: 4/1/2008 TO 4/20/2008 = (0)

 

MULTI-FAMILY – UNDER CONTRACT: 4/1/2008 TO 4/30/2008 = (0)

MULTI-FAMILY – COMPARABLE SALES: 4/1/2008 TO 4/30/2008 = (0)

 

CONDO/TOWNHOUSE – UNDER CONTRACT: 4/1/2008 TO 4/30/2008 = (3)

                                                 ORIGINAL            REDUCED                   DAYS ON

ADDRESS                               LIST PRICE          LIST PRICE                MARKET

301 80TH (3)Bed.,(2)Bth. #17  $655,000.                 $629,000.                               55

2302 Dune (3)Bed.,(3)Bth.        899,000.                   SAME                                 371

503 20th (5)Bed.,(4)Bth. West   1,999,000.                1,595,000.                          1037

 

CONDO/TOWNHOUSE – COMPARABLE SALES: 4/1/2008 TO 4/30/2008 = (5)

                                                            ORIGINAL    REDUCED    SOLD    CLOSING   DAYS

ADDRESS                                          LIST PRICE    PRICE         PRICE      DATE      onMkt

234 21st (2)Bed.,(2)Bth. #101              $492,000.          $449,000.     $395,000.   4/21/08        126

242 29th (4)Bed.,(2.5)Bth. East             669,000.            SAME           650,000.    4/22/08       185

280 28th (4)Bed.,(2)Bth. North              834,000.           699,000.         650,000.    4/9/08         377

226 24th (5)Bed.,(2.5)Bth. West            949,000.           699,000.         662,500.    4/19/08       883

520 20th (5)Bed.,(4)Bth. South            1,495,000.            SAME       1,400,000.    4/19/08       250

                                                         (4,439,000.)          (4,011,000.)  (3,757,500.)                (1,821)

 

Average Original             Average Reduced            Average SOLD        Average Days on

List Price = $887,800.      List Price = $802,200.      Price = $751,500.    Market = 364

 

Difference between Original List Price and SOLD Price = (15%)

Difference between Original List Price and REDUCED Price = (10%)

 

TOTAL AVALON SALE INVENTORY (AS OF 5/12/2008) = (415):

RESIDENTIAL                                           217

LOTS / LAND                                             21

COMMERCIAL                                         11

MULTI-FAMILY                                       11

CONDO/TOWNHOUSE                            155

        

 

 

 

 

 

 

 

 

 

 

 

 

 

MAY- 2008 – AVALON,NJ:

 

RESIDENTIAL – UNDER CONTRACT: 5/1/2008 TO 5/31/2008 = (11)

                                                                ORIGINAL          REDUCED          DAYS ON

ADDRESS                                              LIST PRICE        LIST PRICE        MARKET

221 43rd (3)Bed.,(1.5)Bth.                       $1,150,000.            $999,999.                  316

148 10th (4)Bed.,(1.5)Bth.                          1,195,000.              SAME                     197

38 & 119 MeadowView (4)Bed.,(3.5)Bth. 1,295,000.              SAME                     116

1838 Dune (4)Bed.,(2.5)Bth.                      1,739,000.          1,339,000.                   802

210 53rd (4)Bed.,(2)Bth.                              1,400,000.              SAME                    455

120 28th (5)Bed.,(5)Bth.                              1,975,000.          1,749,000.                  621

6168 Dune (4)Bed.,(3)Bth.                          1,875,000.              SAME                    186

45 E. 27th (6)Bed.,(3.5)                                2,100,000.          1,950,000.                   250

* 7558 Dune (5)Bed.,(4/2)Bth.                    2,895,000.              SAME                     63

* 45 W. 23rd (7)Bed.,(7/2)Bth.                    3,275,000.           3,095,000.                   232

4301 Bayberry (7)Bed.,(7/2)Bth.                7,250,000.               SAME                     403

(*) NEW CONSTRUCTION = 2

 

RESIDENTIAL – COMPARABLE SALES: 5/1/2008 TO 5/31/2008 = (15)

                                                       ORIGINAL    REDUCED    SOLD    CLOSING    DAYS

ADDRESS                                     LIST PRICE      PRICE       PRICE       DATE      onMkt

265 17th (2)Bed.,(1)Bth.50x110     $779,000.          $749,000.     $675,000.    5/19/08          110

176 31st (3)Bed.,(2)Bth.50x110     1,095,000.           775,000.       707,000.    5/22/08           715

213 36th (4)Bed.,(1.5)Bth.50x110     899,900.           875,000.       825,000.    5/19/08           128

470 20th (4)Bed.,(2.5)Bth. 40x100  1,195,000.          SAME          950,000.    5/2/08              92

262 60th (3)Bed.,(1.5)Bth. 60x110  1,399,000.        1,199,000.      975,000.     5/2/08             276

169 18th (6)Bed.,(4)Bth. 50x110     1,350,000.          SAME        1,300,000.    5/16/08           75

303 75th (4)Bed.,(2)Bth.60x110      1,495,000.        1,399,000.    1,317,500.    5/16/08           296

238 47th (5)Bed.,(4)Bth.60x110      1,715,000.          SAME        1,550,000.    5/16/08           123

45 E. 27th (6)Bed.,(3.5)Bth50x110  2,100,000.       1,950,000.    1,800,000.    5/23/08            258

696 22nd (4)Bed.,(2.5)Bth.50x130   2,450,000.       1,995,000.    1,750,000.    5/8/08              598

* 286 76th (5)Bed.,(5)Bth.60x110    2,749,000.       2,599,000.    2,295,000.    5/12/08           418

4606 Fifth(5)Bed.,(2.5)Bth.60x155 3,495,000.       2,495,000.    2,450,000.    5/1/08             292

153 76th (5)Bed.,(4.5)Bth. 60x110  4,295,000.       4,150,000.    4,150,000.     5/2/08             31

* 94 E. 22nd (6)Bed.,(6.5)Bth.55x100   6,395,000.     SAME      6,000,000.     5/3/08             235

4301 Bayberry(7)Bed.,(7/2)Bth.100x145  7,250,000. SAME     6.500,000.     5/30/08           416

(*) NEW CONSTRUCTION = 2

                                                     (38,661,900.)    (36,091,000.)  (33,244,500.)                    (4,063)

 

Average Original                Average Reduced               Average SOLD             Average Days

List Price = $2,577,460.      List Price = $2,406,067.     Price = $2,216,300.       on MKT = 271

 

Difference between ORIGINAL List Price and SOLD Price = (14%)

Difference between ORIGINAL List Price and REDUCED Price = (7%)

 

 

LOTS / LAND – UNDER CONTRACT: 5/1/2008 TO 5/31/2008 = (0)

LOTS / LAND – COMPARABLE SALES: 5/1/2008 TO 5/31/2008 = (0)

 

COMMERC IAL – UNDER CONTRACT: 5/1/2008 TO 5/31/2008 = (0)

COMMERCIAL – COMPARABLE SALES: 5/1/2008 TO 5/31/2008 = (0)

 

MULTI-FAMILY – UNDER CONTRACT: 5/1/2008 TO 5/31/2008 = (0)

MULTI-FAMILY – COMPARABLE SALES: 5/1/2008 TO 5/31/2008 = (0)

 

CONDO/TOWNHOUSE – UNDER CONTRACT: 5/1/2008 TO 5/31/2008 = (2)

                                                                          ORIGINAL          REDUCED          DAYS ON

ADDRESS                                                       LIST PRICE         LIST PRICE       MARKET

* 2310 Dune (3)Bed.,(3)Bth. #2310                $849,000.                $799,000.                   406

754 Sunrise Dr(4)Bed.,(3.5)Bth.East                995,000.                  849,000.                    785

(*) NEW CONSTRUCTION = 1

 

CONDO/TOWNHOUSE – COMPARABLE SALES: 5/1/2008 TO 5/31/2008 = (6)

                                                             ORIGINAL    REDUCED    SOLD    CLOSING  DAYS

ADDRESS                                           LIST PRICE     PRICE       PRICE      DATE      onMkt

383 40th (4)Bed.,(2)Bth. C-A              $699,000.             SAME        $585,000.   5/1/08        281

301 80th (3)Bed.,(2)Bth. #17                 655,000.            629,000.        600,000.   5/16/08      90

214 27th (5)Bed.,(3.5)Bth. East              799,000.            775,000.        700,000.  5/1/08        104

226 27th (5)Bed.,(3)Bth. #226                899,000.             SAME          862,500.  5/28/08      82

6890 Ocean (4)Be3d.,(3)Bth. #6890    1,080,000.            SAME          965,000.  5/2/08        147

* 503 20th (5)Bed.,(4)Bth. West           1,999,000.          1,595,000.    1,500,000.  5/14/08      1092

(*) NEW CONSTRUCTION = 1

                                                           (6,131,000.)         (5,677,000.)  (5,212,500.)               (1,796)

 

Average Original              Average Reduced           Average SOLD       Average Days on

List Price = $1,021,833.    List Price = $946,167.    Price = $868,750.     Market = 299

 

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

Difference between ORIGINAL List Price and REDUCED Price = (8%)

 

TOTAL ACTIVE AVALON SALE INVENTORY (AS OF 5/29/08) = 412

RESIDENTIAL                                                            215

LOTS / LAND                                                              22

COMMERCIAL                                                          11

MULTI-FAMILY                                                        12

CONDO/TOWNHOUSE                                             152