SALES 4-YEAR SNAPSHOT

21

$10M+ Sales, 2022

$273.51M

Total $10M+ Sales Volume, 2022

The central New Jersey coastal market remained hot over the last three years as high-end secondary homes became a focus for New York City buyers seeking a safe escape. Waterfront homes and those nearby to beaches experienced unprecedented price appreciation and seemingly insatiable demand, reshaping some coastal markets for the foreseeable future.”

Bill Kilbride

In this past year, there were four $10 million-plus sales on Seven Mile Island / Avalon & Stone Harbor including a record-setting 110’ X 110’ beachfront land sale for $21 million, two bayfront properties, and one beachfront property. Currently, there are five $10 million-plus properties available including four on the beach, two located in the “High Dunes,” and one bayfront new construction. Historically, the high-end market is less impacted by interest rates and economic downturns, and this

The luxury market in Margate and Longport has escalated greatly this year, with beachfront and bayfront properties among the most desirable in South Jersey’s market. We found that as the demand heightened, the supply lessened, resulting in more opportunities to work with potential buyers and sellers privately.”

Linda Novelli