February 2024: Strong Performance Continues
February continues to see strong performance in Avalon and Stone Harbor, with 17 properties across all sectors going under contract for the month. This shows active engagement across the market with transaction prices ranging from $500,000 to $10,500,000.
Current inventory levels are as follows:
- 68 single-family homes in Avalon/Stone Harbor
- 26 condominiums and townhomes across Avalon/Stone Harbor
- 1 commercial property
- 1 vacant lot
On a broader scale, the Federal Reserve has expressed satisfaction with ongoing progress in combating inflation and maintaining a strong labor market, which contributes to an overall stronger economy.
Federal Reserve Chair Jerome Powell recently indicated that while the Fed anticipates rate cuts later this year, as he believes we are at the peak of our tightening policy, there is a need to see continued reductions in inflation numbers.
What does this mean for the real estate market on the 7 Mile Island? It will continue to be a strong and healthy market here, and you might even see some loosening of inventory as rates start to drop.
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Thinking About Buying or Selling?
Inventory remains at historically low levels. In light of this impressive start to the year, and the promising market outlook, we encourage anyone considering buying or selling in this area to reach out to The Sudell Team. Our expertise and access to exclusive listings ensure you'll receive unparalleled service and insights into the market.
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Avalon & Stone Harbor Spring Events |
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March Madness & Marketplace
The Princeton, Avalon | March 7-9
Thursday & Friday | 4-8pm
Saturday | 11am-5pm
Stop by The Princeton this weekend to grab a cocktail and some retail therapy! Local store vendors will be participating in the new March Madness & Marketplace event featuring basketball on the televisions, and your favorite stores and boutiques hosting pop-up shops throughout the weekend! Stay tuned for a full list of participants as we get closer to the date, and we'll see you at The Princeton!
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Stone Harbor SHopitude Weekend
March 8-10
As Avalon launches March Madness & Marketplace, shoppers can keep the shopping frenzy going by heading south to Stone Harbor for Stone Harbor's SHopitude weekend. More than 40 stores throughout Stone Harbor will be hosting major sales and markdowns, plus summer fashion previews, and hospitality as you shop your way through the downtown shopping district. Be sure to stop for a bite to eat and enjoy happy hour and special menu items at the many restaurants open!
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Stone Harbor Shiver Weekend
March 15 & 16
The Stone Harbor Shiver returns for a full weekend of fun and competition, ending with an icy plunge into the Atlantic Ocean! Pre-register and enjoy a buffet dinner and drinks on Friday evening at the Yacht Club of Stone Harbor, and start your day bright and early on Saturday at Fred's Tavern with some pre and post fun! The annual Shiver Parade will leave Fred's parking lot at Noon, and following the costume contest, participants will jump into the Atlantic Ocean around 1pm!
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Avalon Recreation Easter Egg Scramble
Saturday, March 30 | 10am
Easter weekend kicks off with a mad dash for eggs, with the Avalon Recreation Department's annual Easter Egg Scramble. Families can head to the 8th Street recreation fields for an Easter egg hunt, separated by ages (see below). Be sure to arrive ahead of time, because this event kicks off promptly at 10am.
Ages 1-4, 8th Street Playground
Ages 5-6, 10th Street Field
Ages 7-10, 12th Street Field
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Stone Harbor Job Fair
Saturday, April 6 | 10am-4pm
The Stone Harbor Chamber of Commerce will host its annual in-person job fair on Saturday, April 6. Job seekers can pick up a list of participating businesses by stopping at the Welcome Center (212 96th Street), and follow Stone Harbor's Facebook page for any updates and announcements.
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Trash & Recycling Cans Policy Update for Summer 2024!
Attention residents! To streamline Avalon's waste management process, the borough recently implemented a new trash and recycling can requirement. Prior to last summer, each property received a branded trash and recycling receptacle (see image). While trash continued to be collected through the summer in regular cans, that is no longer permitted. Trash and recycling will only be collected if placed in the borough-distributed receptacles.
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Mandatory Use of Borough Receptacles: Only the newly issued Borough trash and recycling cans will be collected. Older versions will not be serviced.
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No Additional Pickup for Old Cans: There are no plans for further collection rounds for old trash and recycling cans.
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Disposal of Old Cans: Owners are encouraged to bring their old cans to the Public Works facility at the 15th Street entrance. Drop-offs are welcome during business hours, 7am-3pm, daily (except holidays).
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Purchase of Additional Cans: Residents may buy one additional 96-gallon trash can, and one additional 95-gallon recycling can for $100 each. Forms are available at Public Works. Owners have the option to take the cans immediately or arrange for a drop-off at their property on the Thursday of the following week.
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18-Lot Subdivision Coming to Avalon Manor
Despite resident's objections, Middle Township's Planning Board recently approved an 18-home project for Avalon Manor at the Avalon Marina site. Local concerns were raised including parking and public safety, however, the project was approved and will move forward with construction, despite historical opposition to marina redevelopment.
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Avalon Seasonal Beach Tags Are Now On Sale
Avalon's 2024 beach tag is official on sale for the pre-season price of $32 until May 31. Starting June 1, the price will go up to $40/tag, with weekly tags priced at $17 and daily at $8. Beach tags are required for anyone 12 and up accessing Avalon's Beaches from May 24 through September 2, 2024. Tags can be purchased now at the Tax Payers Office during office hours, and on the weekends at the Beach Tag Booth. You can also purchase the tags online by clicking here.
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Stone Harbor Plans to Update Playgrounds
The Stone Harbor Recreation Department recently submitted a grant application for funding for the reconstruction of two playgrounds, 97th Street and 82nd Street. As they await approval for the funding, all previous equipment was removed from both sites and replaced with sand. Construction will begin with the 97th Street playground, and feature equipment that aims for inclusivity and fun for all ages. The second phase of the plans will move to 82nd Street park, but until then, the Recreation Department will be hosting games and activities at this location throughout the summer. While these projects move forward, Chelsea Park Playground will remain open for enjoyment.
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412 42nd Street, Avalon
$8,449,000
6 BR | 8 BA
Discover waterfront luxury with this newly built residence in Yale Harbor, featuring breathtaking southwest sunset views. The property features custom finishes, expansive decks, wet bars, an elevator, and 2 deep-water boat slips. Designed for elegance and entertainment, it's the epitome of bay-front living. Contact us for a private showing!
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197 63rd Street, Avalon
$6,195,000
5 BR | 4 BA
Located just steps away from the beach, this beautiful property is equipped with underground utilities and a low dune line, further enhancing the dynamic ocean views. The property, built by DL Miner and OSK Builders, features a spacious deck space offering waterfront views, and a spacious layout, designed for both entertaining and relaxation.
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5878 Ocean Drive, Avalon
$7,999,000
6 BR | 7 BA
Unique and expansive bay front home with unobstructed sunset and bay views, and only one block from the beach. Featuring 6,380 sq. ft. of conditioned living space, one of the island's largest pools, and a detached guest house with bedroom, bathroom, tv room, and kitchenette. Enjoy island views from the 1,000 sq. ft. rooftop deck, featuring a cabana, refrigerator, and sink for prime entertainment space.
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53 East 13th Street, Avalon
6BR | 6BA | Sleeps 12
Beach block home with heated pool.
Available Weeks: May 11, 18, 25 | June 1, 8, 15
July 20, 27 | August 10, 31
Ready for a luxury vacation? This beach block home, just steps from the ocean, offers a heated pool, a large family room, and high-end amenities throughout. The first floor features a junior suite, while the second floor presents a spacious living area with high ceilings and a gourmet kitchen. Catch the gorgeous ocean views from the decks, and enjoy the top-floor primary suite with ocean views, a walk-in closet, and an additional junior suite. This home promises an unforgettable Avalon vacation!
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Contact us today if you are thinking about
buying, selling, or renting!
Direct: 609-967-0334 | Office: 609-967-4200
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