April 2024: Building Momentum
As we close out the first quarter of 2024, the real estate market on 7 Mile Island has demonstrated significant strength. Our agency has successfully placed properties under contract totaling over $115,000,000, maintaining Ferguson Dechert's position as the market leader.
To put this into perspective, in Q1 of 2023, we recorded $49,000,000 in contracts, marking a growth of over 135% year-over-year. Despite facing challenges such as pending Federal Reserve rate cuts, ongoing international conflicts, and other geopolitical concerns, our outlook for the remainder of 2024 remains positive.
The 7 Mile Island continues to be a robust market for our clients' investments and leisure properties. With limited sale inventory, Ferguson Dechert Real Estate holds 25% of the market's listings. It is now more important than ever to work with the top agency on the island. We consistently outperform our nearest competitor by nearly four times in sales volume.
Current Island Inventory for April 2024
- Single Family Homes in Avalon & Stone Harbor: 71
- Condominiums: 31
- Lots: 6
- Commercial: 2
Thinking About Buying or Selling?
Inventory remains at historically low levels. In light of this impressive start for the first quarter, 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.
|
|
 |
Avalon & Stone Harbor Spring Events |
|
|
|
Spring Into Summer Market
Saturday, May 4-6 | 10am-4pm
95th Street Water Tower Parking Lot
Plan for summer with a weekend of fun, food, and shopping in Stone Harbor. Head to the 95th Street Water Tower Parking Lot for live music, pop-up vendors, and food. And enjoy a stroll through the shopping district for spring sales, new summer items, and everything you need to prep for Summer 2024! Click here for more information.
|
|
Townwide Yard Sale
Saturday, May 11 | 8am-3pm
Hosted by the Avalon Garden Club
This annual event will be held rain or shine! Whether you're an island resident looking to do some spring cleaning, or interested in doing some shopping of your own - this is the perfect day to scoop some treasures for your shore home! For those interested in participating, you can register your home by clicking here and completing the application before May 9.
|
|
Stone Harbor Proposes Rental License Rate Increase
Stone Harbor's Borough Council recently announced a jump in rental licensing fees, increasing rental fees from $125 to $300, and fire inspection fees from $75 to $100, effectively doubling the current combined fees.
Currently, Avalon charges $300 total for license fees, however the amount was imposed gradually rather than in one large increase. Stone Harbor's Fire Chief, Roger Stanford, argued against the instant increase, instead favoring the more gradual hike in fees.
|
|
96th Street Construction Continues
Stone The Borough of Stone Harbor has announced the latest updates to the timeline for the 96th Street road work. For the month of April, 96th will remain closed for crosswalk replacement, concrete work, milling, paving, and restriping. The roadway will be closed Monday through Friday and traffic will be detoured to adjacent streets while work continues. Sidewalks will remain open for pedestrian traffic and stores will remain open. Work is estimated to be completed the first week of May, weather permitting.
|
|
Avalon's Spring Bulk Trash Pick Up & Paper Shredding
Public Work's spring bulk trash dates are set for May 3-12.
Homeowners can place items on the curb beginning at 7am on Monday, May 13. Note that construction and remodeling materials are not included in bulk pick up.
Avalon will also host an annual Paper Shredding event on Saturday, May 11 from
9am-2pm at the Avalon Public Works Building.
|
|
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.
-
Mandatory Use of Borough Receptacles: Only the newly issued Borough trash and recycling cans will be collected. Older versions will not be serviced.
-
No Additional Pickup for Old Cans: There are no plans for further collection rounds for old trash and recycling cans.
-
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).
-
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.
|
|
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.
|
|
40 Inlet Drive, Avalon
$5,795,000
Professionally Designed & Furnished
6 BR | 7.5 BA
Experience some of Avalon's finest water views in this brand-new, designer-furnished (end of April), custom home. Built by Vallese Developers, this home features 6 bedrooms and 7.5 bathrooms, plus an office, with water views of the inlet and back bays from nearly every room. Contact me today to preview this incredible opportunity.
|
|
197 63rd Street, Avalon
$6,195,000 --> $5,995,000
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.
|
|
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!
|
|
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.
|
|
262 74th Street, Avalon
5BR | 2BA | Sleeps 14
Just Two Blocks from the Beach
Only two weeks remain: August 10, 31
This spacious home is located across the street from the bird sanctuary and Armacost Park and just two blocks from the beach. With a large living area and an additional family room, this home has multiple spaces for family and friends to relax and enjoy before and after a day a perfect day on Avalon's beaches.
|
|
275 26th Street, Avalon
4BR | 3BA | Sleeps 8
Steps from Downtown, and Just 3 Blocks from the Beach
Only One Week Left: July 12-19
This Friday to Friday rental is just a short walk from the beach and downtown Avalon. Featuring a cozy layout with a private pool, modern kitchen, and spacious living areas spanning three floors. Enjoy boutique shopping, dining, and a perfect week at the beach.
|
|
|
Contact us today if you are thinking about
buying, selling, or renting!
Direct: 609-967-0334 | Office: 609-967-4200
|
|
|
|
|
|
|
|
|
