SEPTEMBER, 2008 – AVALON, NJ:
RESIDENTIAL – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (9)
ORIGINAL REDUCED DAYS ON
ADDRESS LIST PRICE LIST PRICE MARKET
237 52nd St(3)Bed.,(2)Bth. $985,000. SAME 1
251 36th St(5)Bed.,(3)Bth. 1,199,000. SAME 34
133 23rd St(5)Bed.,(4.5)Bth. 1,850,000. 1,695,000. 581
6600 Ocean Dr(4)Bed.,(3)Bth. 2,175,000. 1,989,000. 173
* 308 76th St(5)Bed.,(5)Bth. 1,995,000. SAME 154
23 Pelican Dr(4)Bed.,(2.5)Bth. 2,495,000. SAME 74
4506 Fifth Ave(4)Bed.,(2.5)Bth. 2,950,000. 2,495,000. 253
178 74th St(4)Bed.,(4)Bth. 2,750,000. 2,650,000. 334
63 Heron Dr(4)Bed.,(3)Bth. 6,500,000. 5,995,000. 807
(*) NEW CONSTRUCTION = 1
RESIDENTIAL – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (13)
ORIGINAL REDUCED SOLD CLOSING DAYS
ADDRESS LIST PRICE PRICE PRICE DATE onMkt
1025 Dune(5)Bed.,(3)Bth. $1,295,000. $1,095,000. $950,000. 9/13/08 126
310 77th(4)Bed.,(3)Bth. 1,990,000. 1,695,000. 1,500,000. 9/30/08 258
184 70th(5)Bed.,(2)Bth. 2,850,000. 2,300,000. 1,800,000. 9/2/08 235
188 35th(5)Bed.,(4)Bth. 2,850,000. 2,395,000. 1,925,000. 9/20/08 938
5288 Dune(4)Bed.,(4)Bth. 1,995,000. SAME 1,995,000. 9/15/08 81
143 38th(5)Bed.,(5)Bth. 2,495,000. SAME 2,150,000. 9/30/08 179
669 24th(5)Bed.,(2)Bth. 3,500,000. 2,800,000. 2,500,000. 9/13/08 465
* 45 W. 23rd(7)Bed.,(7/2)Bth. 3,275,000. 3,095,000. 2,909,166. 9/20/08 366
* 7599 Sunset(5)Bed.,(4.5)Bth. 3,295,000. SAME 3,150,000. 9/19/08 49
518 7th (5)bed.,(4/2)Bth. 3,795,000. 3,495,000. 3,300,000. 9/26/08 235
181 67th(4)Bed.,(4)Bth. 3,600,000. SAME 3,600,000. 9/5/08 47
170 58th(4)Bed.,(3.5)Bth. 4,895,000. 4,695,000. 4,200,000. 9/12/08 1,032
182 60th(5)Bed.,(5/2)Bth. 5,199,000. 4,699,000. 4,425,000. 9/12/08 386
(*) NEW CONSTRUCTION = 2
(41,034,000.) (37,654,000.) (34,404,166.) (4,397)
Average Original Average Reduced Average Sold Average Days on
List Price = $3,156,461. List Price = $2,896,461. Price = $2,646,473. Market = 338
- Difference between Original List Price and SOLD Price = (16%)
- Difference between Original List Price and Reduced Price = (9%)
LOTS/LAND – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)
LOTS/LAND – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (1)
ORIGINAL REDUCED SOLD CLOSING DAYS
ADDRESS LIST PRICE PRICE PRICE DATE onMkt
66 W 13th St.-75’x110’ $1,350,000. $1,249,000. $1,175,000. 9/20/08 170
COMMERCIAL – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)
COMMERCIAL – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (0)
MULTI-FAMILY – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)
MULTI-FAMILY – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (0)
CONDO/TOWNHOUSE – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (6)
ORIGINAL REDUCED DAYS ON
ADDRESS LIST PRICE LIST PRICE MARKET
235 33rd St(4)Bed.,(2.5)Bth. East $799,000. $700,000. 188
700 Ocean Dr(3)Bed.,(2.5)Bth. #F-5 759,900. 725,000. 254
66 E 20th(2)Bed.,(2)Bth. #206 899,000. 824,900. 540
2503 Dune(4)Bed.,(3)Bth. #2503 1,077,500. SAME 147
* 375 24th (4)Bed.,(4)Bth. East 1,595,000. SAME 200
2002 Ocean (5)Bed.,(5.5)Bth. North 2,100,000. 1,899,000. 157
CONDO/TOWNHOUSE – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (6)
ORIGINAL REDUCED SOLD CLOSING DAYS
ADDRESS LIST PRICE PRICE PRICE DATE onMkt
1607 Ocean (3)Bed.,(2)Bth. #F $539,000. SAME $480,000. 9/6/08 95
700 First(2)Bed.,(2)Bth. #402 699,000. 649,000. 575,000. 9/19/08 183
1322 Ocean(3)Bed.,(2)Bth. #12 895,000. 849,900. 800,000. 9/6/08 548
6840 Ocean(5)Bed.,(4)Bth. #6840 1,279,000. 1,099,000. 1,000,000. 9/27/08 203
497 24th(5)Bed.,(4)Bth. East 1,595,000. 1,395,000. 1,275,000. 9/26/08 238
2688 Ocean(4)Bed.,(4)Bth. South 1,774,500. 1,499,500. 1,475,000. 9/3/08 233
(6,781,500.) (6,031,400.) (5,605,000.) (1,500)
Average Original Average Reduced Average Sold Average Days on
List Price = $1,130,250. List Price = $1,005,233. Price = $934,167. Market = 250
- Difference between Original List Price and SOLD Price = (17%)
- Difference between Original List Price and Reduced Price = (11%)
TOTAL SALE INVENTORY – AVALON – (AS OF 10/4/2008) = (428)
RESIDENTIAL 220
LOTS/LAND 21
COMMERCIAL 18
MULTI-FAMILY 10
CONDO/TOWNHOUSE 159