JULY, 2008 AVALON,
NJ:
RESIDENTIAL UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (7)
ORIGINAL REDUCED DAYS ON
ADDRESS LIST PRICE LIST PRICE MARKET
1025 Dune(5)Bed.,(3)Bth. $1,295,000. $1,095,000. 73
133 23rd (5)Bed.,(4.5)Bth. 1,850,000. 1,749,000. 522
5288 Dune(4)Bed.,(4)Bth. 1,995,000. SAME 15
* 261 75th (5)Bed.,(6.5)Bth. 2,750,000. 2,650,000. 197
2668 Ocean(5)Bed.,(5.5)Bth. 2,995,000. 2,695,000. 447
181 67th(4)Bed.,(4)Bth. 3,600,000. SAME 1
182 60th(5)Bed.,(5/2)Bth. 5,199,000. 4,699,000. 341
(*) NEW CONSTRUCTION = 1
RESIDENTIAL COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (2)
ORIGINAL REDUCED SOLD CLOSING DAYS
ADDRESS LIST PRICE PRICE PRICE DATE onMkt
221 43rd(3)Bed.,(1.5)Bth. $1,150,000. $999,999. $929,000. 7/15/08 375
198 77th(4)Bed.,(3.5)Bth. 2,595,000. 2,345,000. 2,100,000. 7/25/08 667
(3,745,000.) (3,344,999.) (3,029,000.) (1,042)
Average Original Average Reduced Average Sold Average Days on
List Price = $1,872,500. List Price = $1,672,499. Price = $1,514,500. Market = 521
- Difference between Original List Price and SOLD Price = (19%)
- Difference between Original List Price and REDUCED Price = (11%)
LOTS / LAND UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (0)
LOTS / LAND COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (0)
COMMERCIAL UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (0)
COMMERCIAL COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (0)
MULTI-FAMILY UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (0)
MULTI-FAMILY COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (0)
CONDO/TOWNHOUSE UNDER CONTRACT: 7/1/2008 TO 7/31/2008 = (17)
ORIGINAL REDUCED DAYS ON
ADDRESS LIST PRICE LIST PRICE MARKET
THE NEW OCEANVIEW CONDOMINIUM PROJECT The renovation of the Avalon Inn.
7929 Dune (1)Bed.,(1)Bth. #112 $305,990. SAME 0
7929 Dune (1)Bed.,(1)Bth. #212 319,900. SAME 0
7929 Dune (1)Bed.,(1)Bth. #101 319,900. SAME -2
7929 Dune (1)Bed.,(1)Bth. #207 330,000. SAME 0
7929 Dune (1)Bed.,(1)Bth. #201 339,900. SAME 13
7929 Dune (1)Bed.,(1)Bth. #117 339,990. SAME 13
condo/townhouse sales continued .
7929 Dune (1)Bed.,(1)Bth. #307 359,990. 349,900. 0
7929 Dune (2)Bed.,(1)Bth. #206 379,990. SAME 4
7929 Dune (1)Bed.,(1)Bth. #116 379,990. 329,990. 54
7929 Dune (2)Bed.,(1)Bth. #306 389,990. SAME 31
7929 Dune (1)Bed.,(1)Bth. #315 399,990. SAME 31
7929 Dune (1)Bed.,(1)Bth. #314 419,990. SAME 21
1607 Ocean(3)Bed.,(2)Bth. #F 539,000. SAME 57
7901 Ocean(3)Bed.,(2)Bth. #1 669,000. 599,000. 50
4 Marine Way(3)Bed.,(3)Bth. #4 750,000. 739,000. 91
326 41st(5)Bed.,(3)Bth. West 1,050,000. 849,900. 655
* 377 24th(4)Bed.,(4)Bth. West 1,595,000. SAME 152
(*) NEW CONSTRUCTION = (1)
CONDO/TOWNHOUSE COMPARABLE SALES: 7/1/2008 TO 7/31/2008 = (2)
ORIGINAL REDUCED SOLD CLOSING DAYS
ADDRESS LIST PRICE PRICE PRICE DATE onMkt
236 25th(5)Bed.,(4)Bth. West $890,000. $779,000. $700,000. 7/18/08 196
286 34th(5)Bed.,(3.5)Bth. 969,000. 929,000. 820,000. 7/11/08 177
(1,859,000.) (1,708,000.) (1,520,000.) (373)
Average Original Average Reduced Average Sold Average Days on
List Price = $929,500. List Price = $854,000. Price = $760,000. Market = 187
- Difference between Original List Price and SOLD Price = (18%)
- Difference between Original List Price and REDUCED Price = (8%)
TOTAL AVALON SALE INVENTORY (AS OF 8/4/2008) = (443)
RESIDENTIAL 225
LOTS / LAND 20
COMMERCIAL 17
MULTI-FAMILY 10
CONDO/TOWNHOUSE 171
AUGUST, 2008 AVALON, NJ:
RESIDENTIAL UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (14)
ORIGINAL REDUCED DAYS ON
ADDRESS LIST PRICE LIST PRICE MARKET
680 Third (4)Bed.,(3)Bth. $1,400,000. $1,100,000. 199
635 7th Street(4)Bed.,(2)Bth. 1,385,000. 1,190,000. 188
63 W. 29th Street(4)Bed.,(3.5)Bth. 1,795,000. 1,495,000. 552
310 77th Street(4)Bed.,(3)Bth. 1,990,000. 1,695,000. 223
35 E. 12th Street(5)bed.,(3.5)Bth. 1,790,000. SAME 59
2289 Avalon(5)Bed.,(3.5)Bth. 2,199,000. 1,999,000. 190
7389 Dune(4)Bed.,(4)Bth. 2,395,000. SAME 68
601 24th Street(5)Bed.,(2/3)Bth. 2,395,000. SAME 202
188 35th Street(5)Bed.,(4)Bth. 2,850,000. 2,395,000. 904
23 Pelican(4)Bed.,(2.5)Bth. 2,495,000. SAME 32
143 38th Street(5)Bed.,(5)Bth. 2,495,000. SAME 148
* 7599 Sunset(5)Bed.,(4.5)Bth. 3,295,000. SAME 12
189 63rdStreet(5)Bed.,(2)Bth. 3,350,000. SAME 80
518 Yacht Club Dr(5)Bed.,(4/2)Bth. 3,795,000. 3,495,000. 191
(*) NEW CONSTRUCTION = 1
RESIDENTIAL COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (4)
ORIGINAL REDUCED SOLD CLOSING DAYS
ADDRESS LIST PRICE PRICE PRICE DATE onMkt.
233 37th St(4)Bed.,(3)Bth. $ 995,000. SAME $775,000. 8/27/08 322
2668 Ocean(5)Bed.,(5.5)Bth. 2,995,000. 2,695,000 . 2,300,000. 8/30/08 482
* 261 75th(5)Bed.,(6.5)Bth. 2,750,000. 2,650,000. 2,450,000. 8/1/08 209
* 7558 Dune(5)Bed.,(4/2)Bth. 2,895,000. SAME 2,675,000. 8/22/08 196
(*) NEW CONSTRUCTION = 2
(9,635,000.) (9,235,000.) (8,200,000.) (1,209)
Average Original Average Reduced Average Sold Average Days on
List Price = $2,408,750. List Price = $2,308,750. Price = $2,050,000. Market = 302
- Difference between ORIGINAL List Price and SOLD Price = (15%)
- Difference between ORIGINAL List Price and REDUCED Price = (4%)
VACANT LOTS/LAND UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (0)
VACANT LOTS/LAND COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (0)
COMMERCIAL UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (0)
COMMERCIAL COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (0)
MULTI-FAMILY UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (0)
MULTI-FAMILY COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (0)
CONDO/TOWNHOUSE UNDER CONTRACT: 8/1/2008 TO 8/31/2008 = (10)
ORIGINAL REDUCED DAYS ON
ADDRESS LIST PRICE LIST PRICE MARKET
THE OCEANVIEW CONDOMINIUM RENOVATION PROJECT (nee Avalon Inn)
7929 Dune(1)Bed.,(1)Bth. #107 $305,000. SAME 28
7929 Dune(1)Bed.,(1)Bth. #106 305,000. SAME 37
7929 Dune(1)Bed.,(1)Bth. #115 329,990. SAME 1
7929 Dune(1)Bed.,(1)Bth. #110 334,990. SAME 22
7929 Dune(1)Bed.,(1)Bth. #312 364,990. SAME 36
7929 Dune(1)Bed.,(1)Bth. #215 389,990. 379,990. 126
7929 Dune(1)Bed.,(1)Bth. #301 399,990. SAME 1
2445 Avalon(3)Bed.,(1.5)Bth. #5 795,000. 695,000. 322
1322 Ocean(3)Bed.,(2)Bth. #12 895,000. 849,900. 511
6840 Ocean(5)Bed.,(4)Bth. W 1,279,000. 1,099,000. 174
CONDO/TOWNHOUSE COMPARABLE SALES: 8/1/2008 TO 8/31/2008 = (7)
ORIGINAL REDUCED SOLD CLOSING DAYS
ADDRESS LIST PRICE PRICE PRICE DATE onMkt
7800 Dune(1)Bed.,(1)Bth. #125 $275,000. $265,000. $265,000. 8/1/08 200
7901 Ocean(3)Bed.,(2)Bth. #7 669,000. 599,000. 549,000. 8/12/08 82
4 Marine Way(3)Bed.,(3)Bth. #4 750,000. 739,000. 700,000. 8/15/08 123
2128 Harbor(5)Bed.,(4)Bth. North 949,900. 819,900. 800,000. 8/29/08 483
326 41st(5)Bed.,(3)Bth. West 1,050,000. 849,900. 830,000. 8/8/08 666
377 24th(4)Bed.,(4)Bth. West 1,595,000. SAME 1,525,000. 8/15/08 186
1100 Ocean(3)Bed.,(2)bth. #212 1,695,000. SAME 1,650,000. 8/26/08 76
(6,983,900.) (6,562,800.) (6,319,000.) (1,816)
Average Original Average Reduced Average Sold Average Days on
List Price = $997,700. List Price = $937,543. Price = $902,714. Market = 259
- Difference between ORIGINAL List Price and SOLD Price = (10%)
- Difference between ORIGINAL List Price and REDUCED Price = (6%)
TOTAL AVALON SALE INVENTORY(AS OF 9/9/2008) = 443
RESIDENTIAL 222
LOTS/LAND 21
COMMERCIAL 18
MULTI-FAMILY 10
CONDO/TOWNHOUSE 172