Avalon held its second annual New Year’s Eve fireworks display on the beach, adding bright lights to foggy weather! Photo courtesy of Avalon Public Works Director Bill McCormick via Facebook.
HAPPY NEW YEAR to you and your family! May the new year bring you good health and much happiness!
FROM FRIGID TO SNOW, FOG, AND RAIN, and then a warm up to nearly 60 degrees, the holiday season saw extremely varied weather conditions. The fast, deep freeze that lasted a few days lead to frozen pipes and the resulting water leaks as temperatures warmed up. By New Year’s Eve temperatures had moderated and damp, foggy conditions took over.
OPERATION FIRESIDE resumed this holiday season as more than 200 recruits from Coast Guard Training Center Cape May were hosted by local families on Christmas day, providing them a home cooked holiday meal in a comfortable setting, and a break from their basic training duties on the Coast Guard base. Thanksgiving’s Operation Fireside was the first time since the start of the pandemic that the 41-year-old program was held.
2023 REAL ESTATE MARKET: As the year begins there are several factors affecting the real estate market. Here’s what to watch:
- Interest rates: after a dramatic rise last year from the 3% range to nearly 7%, rates have settled down a bit and now hover just over 6%. While higher rates have had a dampening effect on the mainland and primary residence market, the effect is somewhat less in the Avalon/Stone Harbor market, where buyers tend to be more affluent, and a high percentage of our transactions are cash.
- Inflation: it’s on everyone’s mind, and has significant implications for the broader economy. But real estate is generally seen as a hedge against inflation, and a good asset to hold when prices are rising.
- Buyer demand: thus far purchase demand has remained steady.
- Listing inventory: the listing crunch of a couple of years ago has eased somewhat, and the number of active listings has increased.
- The real estate market in general: with demand remaining steady and a better supply of listings, we are easing toward a more balanced market.
- Your situation: whatever your real estate goals this year, I’m ready to help you achieve them. Please call or email me to discuss your situation!
12 EXTRA MINUTES OF SUNSHINE! Daylight time is increasing a little bit each day, and just two weeks after the winter solstice, it’s already noticeable! We’ve already gained about 12 minutes of daylight since then–a big help as January begins!
ADD A WEEK OF SUNSHINE to your life! Let me help you find a vacation rental property! Summer 2023 is just around the corner—let’s find your rental property now! Email or call me!
New Listings:
260 110th Street, Stone Harbor, $2,200,000, ACTIVE MLS#: 230003
301 84th Street, Stone Harbor, $2,485,000, ACTIVE MLS#: 230004
Properties Under Contract:
9114 Third Avenue, 2nd Floor, Stone Harbor, $1,650,000, UNDER CONTRACT MLS#: 223669
285 38th Street, Avalon, $2,800,000, UNDER CONTRACT MLS#: 223297
2588 1st Avenue, Avalon, $2,895,000, UNDER CONTRACT MLS#: 223359
Properties Sold:
285 54th Street, Avalon, $2,100,000, SOLD MLS#: 222667
205 67th Street, Avalon, $2,500,000, SOLD MLS#: 223116
302 42nd Street, Avalon, $3,995,000, SOLD MLS#: 221587
169 19th Street, Avalon, $4,500,000, SOLD MLS#: 223015
