June 19, 2025

 
Prices and inventory were up just slightly during May 2025. 
See the Long & Foster Market Minute report below for more. 

In The News:

MARKET STATS: The median sale price increased slightly during the month of May 2025, and so did the number of active listings.  The average "days on market" figure held steady.  For a detailed look at the market, see the latest Long & Foster Market Minute report
 
BEACH REPLENISHMENT FUNDING ZEROED OUT.  The Cape May County Herald reported on June 12th that the current administration has "zeroed out all beach nourishment funding in the FY25 federal budget, meaning no New Jersey beach nourishment projects will be completed this upcoming winter despite scheduled nourishments for both Ocean City and Stone Harbor/Avalon." Cape May City also has a scheduled project that would have been eligible for replenishment funding.  The Herald went on to report "Beach replenishment projects are typically funded with 65% federal dollars, while the remaining 35% comes from state and local sources – three-quarters of which are paid by the state.

Avalon Administrator Scott Wahl informed the Borough Council at its June 11 meeting that state policy does not permit a state contribution in the absence of a federal share. Without federal dollars, shore resort communities could be faced with the total cost of a hydraulic beach fill, which is generally out of reach for municipal budgets.
 
In Stone Harbor and Avalon, the Army Corps' most recent beach replenishment project was in 2023. The most recent Cape Island nourishment took place in November and December 2023. Ocean City, north of 34th Street, was last nourished between October 2022 and February 2023."
 
Stone Harbor Mayor Tim Carney has called on Congress to prioritize federal beach funding to keep our beaches safe and available for everyone to enjoy. 

SAY NO to a higher "mansion tax" proposed by NJ Governor Phil Murphy.  Murphy has proposed increasing the "transfer fee" - currently 1% on properties over $1 million, in order to raise revenue.  Murphy's proposal includes doubling the fee to 2% on properties from $1 million to $2 million, and tripling the fee to 3% on properties over $2 million, meaning the minimum fee would jump from $20,000 to $60,000.  This new fee is NOT in effect, but let's make sure it stays that way. Read More  more on the proposal - and ways to make your opinion know among your New Jersey legislators.  
 
GOTTA DO IT: SAILING!  Back by popular demand, my "Gotta Do It" list is back!  This week: Sailing!  There's no better way to enjoy the water than to be propelled across it by wind power alone!  If you've never sailed before, a two-hour lesson is a great way to get started  check out Point Sailing (located in Beesley's Point) Read More or Ocean City Sailing Foundation (located in Ocean City) for lessons or week-long kids' camps. Read More.  If a more laid-back approach what you want, the AJ Meerwald, New Jersey's official tall ship, is back at the Cape May-Lewes Ferry Terminal offering public day sails on Delaware Bay through July 6th.  Sit back and relax, or pitch in, grab hold of a line, and help the crew set sail!  for info and tickets.
 
SUMMER ACTIVITIES a re ramping up!  See my events list below for ideas on what to enjoy while you're on the island!
 
STAY FOR A WEEK, OR MAKE IT PERMANENT?  If you haven't scheduled your summer vacation yet, now's the time!  Don't wait until the last minute to ensure a week of fun and family memories.  Of course, if you'd like to make it permanent and purchase your very own shore property, let's talk!  Call or email me today!

UPCOMING EVENTS:

Thursdays at Surfside: Sensational Soul Cruisers concert.  Surfside Park, Thursday, June 19th, 7pm. 
 
Avalon Historical Society Olde House Tour.  Friday, June 20th, 1-4pm.  For info and tickets
 
Sand Sculpture Reveal.  Watch as artist Brendan Schaffer sculpts sand into a beautiful work of art.  Sculpting begins early, and will be revealed around 10am.  30th Street beach, Saturday, June 21st, 10am.
 
Summer Solstice Festival.  Food vendors, beer & wine sales, balloon artists, face painters, plus music by Jimmy and the Parrots.  Surfside Park, Saturday, June 21st, 5pm to 9pm. 

Harbor Hustle 5k run 1M run, 1M walk.  Sunday, June 22nd, 7:30am. For info and registration
 
Comeback Story for the Ages -The Osprey in New Jersey. This presentation will discuss the story of the Osprey, what caused their demise and comeback, and the challenges they still face today    Surfside Park, Wednesday, June 25th, 6pm. 
 
Hoagie Sale at Stone Harbor Fire House.  Saturday, June 28th, 8am to 11am.  Go early, they sell out! 
 
Memorial Ceremony Honoring Firefighter Thomas A. Thompson, who gave his life in the line of duty at the Avalon Ice House Fire on June 29th, 1956.  Avalon Memorial, 30th & Dune Drive, Sunday, June 29th, 11am. 

recent LISTINGS:

66 E 20th Street, 108, Avalon, $1,495,000, ACTIVE MLS#: 251750


364 41st Street, East, Avalon, $1,949,000, ACTIVE MLS#: 251748


138 8th Street, Avalon, $2,795,000, ACTIVE MLS#: 251736


146 22nd Street, Avalon, $4,895,000, ACTIVE MLS#: 251728


10019 Sunrise Drive, Stone Harbor, $5,895,000, ACTIVE MLS#: 251746


4202 5th Avenue, Avalon, $6,995,000, ACTIVE MLS#: 251749


1 108th Street, Stone Harbor, $13,499,999, ACTIVE MLS#: 251753

PROPERTIES UNDER CONTRACT:

700 First Avenue, 305, Avalon, $959,000, UNDER CONTRACT MLS#: 251106


158 38th Street, Avalon, $6,495,000, UNDER CONTRACT MLS#: 251464

PROPERTIES sold:

235 96th Street, Stone Harbor, $1,050,000, SOLD MLS#: 250763


280 28th Street, East, Avalon, $1,450,000, SOLD MLS#: 250668


1100 Ocean Drive, Unit 208, Avalon, $1,950,000, SOLD MLS#: 250661


267 35th Street, West, Avalon, $1,950,000, SOLD MLS#: 250517


176 24th Street, Avalon, $3,575,000, SOLD MLS#: 250596


585 7th Street, Avalon, $2,800,000, SOLD MLS#: 242112


115 117th Street, Stone Harbor, $5,500,000, SOLD MLS#: 241813