2008 – YEAR END SEA
ISLE CITY, NJ:
CONDO/TOWNHOUSE:
Average ORIGINAL Average
REDUCED Average SOLD Average
DAYS
List
Price
List Price
Price
on Market
1ST QTR. $
672,682.
$
632,124.
$
591,517.
251
2ND QTR.
685,687.
663,365.
628,432.
228
3RD QTR.
738,586.
689,819.
651,348.
223
4TH QTR.
608,338.
555,362. 513,607.
155
(2,705,293.)
(2,540,670.)
(2,384,904.)
(857)
AVERAGES: $
676,323.
$
635,167.
$ 596,226.
214
- Difference
between ORIGINAL List Price and SOLD Price = (12%)
- Difference
between ORIGINAL List Price and REDUCED Price = (6%)
1ST QTR. CONDO/TOWNHOUSE SALES = 48
2ND QTR. CONDO/TOWNHOUSE SALES = 58
3RD QTR. CONDO/TOWNHOUSE SALES = 29
4TH QTR. CONDO/TOWNHOUSE SALES = 25
TOTAL CONDO/TOWNHOUSE SALES = (160)
- FORTY-ONE
(45) NEW CONSTRUCTION UNITS
RESIDENTIAL:
Average ORIGINAL Average
REDUCED Average SOLD Average DAYS
List
Price
List Price
Price
on Market
1ST QTR. $
1,025,000.
$
961,633.
$
837,667.
157
2ND
QTR.
810,833.
795,750.
705,250.
246
3RD
QTR. 993,611.
958,056.
877,222.
281
4TH
QTR.
456,333.
456,333.
366,667.
61
(3,285,777.)
(3,171,772.)
(2,786,806.)
(745)
AVERAGES: $
821,444.
$
792,943.
$
696,701.
186
- Difference
between ORIGINAL List Price and SOLD Price = (15%)
- Difference
between ORIGINAL List Price and REDUCED Price = (4%)
1ST QTR. RESIDENTIAL SALES = 2
2ND QTR. RESIDENTIAL SALES = 7
3RD QTR. RESIDENTIAL SALES = 5
4TH QTR. RESIDENTIAL SALES = 2
TOTAL RESIDENTIAL SALES = (16)
– TWO (2) NEW CONSTRUCTION HOMES
Sea Isle City - PAST
YEAR-END COMPARISONS:
CONDO-
TOWNHOUSE:
2005
2006
2007
2008
TOTAL
SALES:
221
136
214
160
NEW CONSTRUCTION UNITS:
51
59
95
45
AVERAGE SELLING PRICE: $
786,696. $
798,974. $
743,963.
$ 596,226.
% SELLING PRICE TO LIST PRICE:
6%
10%
13%
12%
TOTAL SOLD VOLUME: $ 173,859,881.
$ 108,604,383. $ 163,436,945. $ 95,202,375.
AVERAGE DAYS ON MARKET:
194
205
229
214
RESIDENTIAL:
2005
2006
2007
2008
TOTAL
SALES:
25
14
11
16
NEW CONSTRUCTION HOMES:
-0-
3
1
2
AVERAGE SELLING PRICE: $
918,796. $
998,857. $
1,003,182. $
696,701.
% SELLING PRICE TO LIST PRICE:
14%
8%
12%
15%
TOTAL SOLD VOLUME: $ 22,969,900.
$ 13,984,000. $ 11,035,000. $
14,043,000.
AVERAGE DASY ON MARKET:
216
195
159
186