The Burke & Co. Weekly Market Report for Avalon, Sea Isle, and Stone Harbor– Week ending January 9, 2021
None too surprisingly, Sea Isle leads the way in our weekly look at the three towns of Avalon, Sea Isle, and Stone Harbor as we start the spring buying season.
My favorite Yogi Berrism is that- upon hearing some of his players discussing a popular local restaurant and potential plans– he offered the following bit of advice referring to it: “Nobody goes there anymore. It’s too crowded.” This quote is not related to this week’s market report. But I had to cover it so I could get to my 2nd favorite Yogi Berrism. In October of 1963, he was quoted describing the infamous shadows in left field at Yankee Stadium with “It gets late early out there.”
It’s not the perfect grammatical or logical construct to the following concept, but it’s close enough: The spring buying season starts early at the NJ shore. While Stone Harbor and Avalon might see their busiest times during the summer, Sea Isle–along with towns like Ocean City and The Wildwoods– see the largest number of transactions in the spring. It makes logical sense. People are using summer homes in the summer. And summer homes are out of sight and out of mind during a lot of the winter.
It used to be said that Easter was the start of this intense period. Then it crept up and Super Bowl weekend was considered the kickoff. However in recent years– especially years with milder winters– this active period has commenced on January 1. And in the last 3 years, prices have moved up through the season. Will this be the case this year? It’s hard to predict following a 2020 that was a year without historic comparison.
It’s certainly the case that inventory is starting lower than ever. Let’s continue to use Sea Isle as an example. If one is looking for a 4+ BR townhouse in SIC, there are only between 15 and 20 on the market right now today. It will be interested to see how many sellers decide this is the time.
If you are ready to start your plans to buy or sell, call us at our team line at 609-478-0333 or email [email protected]
And of course, take a look at all of this weeks new listings, under contract, and sold homes with these links.
Avalon- New Listings and Price Changes (2), Under Contract (0), Sold and Settled (12)
Sea Isle- New Listings and Price Changes (4), Under Contract (7), Sold and Settled (3)
Stone Harbor- New Listings and Price Changes (3), Under Contract (2), Sold and Settled (0)
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