If you own a single family home in Sea Isle and you are thinking of selling, timing has never been better with only 18 competitive listings on the market. The selling season unofficially starts after the incredibly popular Polar Bear Plunge in March.
Ocean City’s unofficial selling season started this month. Ocean City’s notable shortage is in bay front homes with only 10 available with an average sales price of $1.8M. The days of $1.1-1.2M singles on the bay are over.
The question in Ocean City is how all the new construction will affect the older properties that are for sale now. In a separate category, the 25 year+ 3 bedroom/2 bathroom condos are struggling in the $450-500k range while the $700-800k 4 bedroom condos are experiencing a similar issue. Also trending … of the 135 tear-downs/re-builds last year, 88 were single family homes and 45 were duplexes.
We believe sellers at the shore will have one more season of capitalizing on this boom market, while buyers remain lucky with low interest rates forecasted to be between 4.5 -4.75%. With most summer landlords very content with 75% booked (on average) or not needing to rent, rental listing stock is down.
WANTED!:
Ocean City and Sea Isle Sale and Rental Listings!
With the newly imposed 12% state tax on private rentals, it makes sense to list with brokers to escape the tax.
Ocean City’s unofficial selling season started this month. Ocean City’s notable shortage is in bay front homes with only 10 available with an average sales price of $1.8M. The days of $1.1-1.2M singles on the bay are over.
The question in Ocean City is how all the new construction will affect the older properties that are for sale now. In a separate category, the 25 year+ 3 bedroom/2 bathroom condos are struggling in the $450-500k range while the $700-800k 4 bedroom condos are experiencing a similar issue. Also trending … of the 135 tear-downs/re-builds last year, 88 were single family homes and 45 were duplexes.
We believe sellers at the shore will have one more season of capitalizing on this boom market, while buyers remain lucky with low interest rates forecasted to be between 4.5 -4.75%. With most summer landlords very content with 75% booked (on average) or not needing to rent, rental listing stock is down.
WANTED!:
Ocean City and Sea Isle Sale and Rental Listings!
With the newly imposed 12% state tax on private rentals, it makes sense to list with brokers to escape the tax.
Click here for details about the Air BNB tax.
Call: 609-338-7667 With your rental rates to meet this demand and escape the tax.
Call: 609-338-7667 With your rental rates to meet this demand and escape the tax.
