WILDWOOD REAL ESTATE BLOG - ISLAND REALTY GROUP

Wildwood & South Jersey Shore
Real Estate Blog

7 November 2011, 1:45 PM - Overall the South Jersey Shore Resort market has continued to improve bucking the trend of the mainland markets. Fall Sales, New Offerings and Pending Sales have steadily increased over the past week. Each municipality has reported the following results:

Municipality	Listings	Median $	Pending	Median $	Sales	Median $
Ocean City	90	$566,450	23	$499,900	15	$438,000
Strathmere	0		1	$459,000	0
Sea Isle City	20	$556,950	9	$729,000	3	$370,000
Avalon	9	$749,000	3	$839,000	0
Stone Harbor	13	$795,000	3	$699,900	0
North Wildwood	32	$299,090	6	$375,000	3	$156,000
Wildwood	23	$249,000	7	$239,000	7	$215,000
West Wildwood	3	$449,500	1	$165,000	0
Wildwood Crest	17	$489,000	3	$429,900	4	$495,000
Diamond Beach	2	$376,500	0		2	$360,000
Cape May	9	$380,000	3	$475,000	5	$472,500

39 Sales accounted for a realized gross sales result for the period of $17,419,900 on a list price total of $19,289,000 representing an offset from asking price under 10%. Of the 39 properties sold, there were 24 Condominiums, 4 Townhouses, 8 Single Family Homes, 2 Multi-Family Properties, 1 Building Lot and 0 Commercial Sales.

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14 November 2011, 10:07 AM – The past week has seen a slowing of sales activity typical of this time of year. Each municipality has reported the following results:

Municipality

Listings

Median $

Pending

Median $

Sales

Median $

Ocean City

27

$539,900

18

$459,499

11

$410,000

Strathmere

1

$900,000

1

$459,000

0

0

Sea Isle City

6

$717,000

2

$674,250

0

0

Avalon

4

$744,000

5

$1,495,000

1

$559,000

Stone Harbor

6

$1,897,500

2

$2,945,000

0

0

North Wildwood

19

$274,900

7

$279,900

6

$312,500

Wildwood

12

$150,000

8

$202,450

2

$130,750

West Wildwood

1

$279,000

1

$185,000

0

Wildwood Crest

6

$144,700

5

$239,000

4

$295,000

Diamond Beach

0

0

0

1

$1,050,000

Cape May

4

$674,450

3

$599,900

5

$525,000

30 Sales accounted for a realized gross sales result for the period of $12,321,800 on a list price total of $13,861,195 representing an offset from asking price just over 11%. Of the 30 properties sold, there were 18 Condominiums, 1 Townhouses, 8 Single Family Homes, 2 Multi-Family Properties, 1 Building Lot and 0 Commercial Sales.