Sea Isle City real estate market analysis

121 60thI have lived in Sea Isle City for over 28 years and have watched it change and grow.  It is a phenomena how this sleepy little town most of the year has such a following.    I totally understand it as I moved here because I fell in love with the shore as a kid.   It was magical to me and I still feel the same way.

The real estate market has well recovered since the collapse 10 years ago.  Values have been gradually climbing for the past 4+ years.  There is a unique character to this City that keeps investors and 2nd home buyers coming.   But, don’t just take my word for it, let the statistics do the talking.   I have taken the following information from the Cape May County Multiple Listings for as far back as their records go starting in 2008 when prices began to drop from those speculative highs before the crash and the mortgage crisis hit.   I used only condominiums and condo/townhouse sales which make up the bulk of residential sales.

Calendar Year                   #Units Sold                    Median Sold Price

2008                                         152                                       $646,750

2009                                         165                                        $606,100

2010                                          166                                       $598,500

2011                                           185                                       $585,000

2012                                          254                                       $565,000

2013                                          213                                       $600,000

2014                                          237                                       $630,000

2015                                          274                                        $626,500

2016                                          239                                        $660,000

1/1/2017 to 9/14/17*             168                                        $700,000

*There are 29 condos and condo/townhouses pending sales set to close in 2017 but are not included in the above figure for 2017.   We still have a Fall 2017 market to come.

For more specific data, please email me at luann@oceanviewrealty.us and I would be happy to provide whatever information you need regarding real estate in Sea Isle City or surrounding communities.    Thanks for reading.   I look forward to your comments too!

 

 

Townsends Inlet Bridge connecting Sea Isle to Avalon Now Open

Townsends Inlet Bridge Reopened 2 Weeks ago just before the Food Truck Weekend at Kix in June.  However, there is a 15 ton weight limit.   See chart below if you’re curious.

townsends.inlet.bridge2townsends.inlet.bridgeTIbridgeRoad-leading-to-Townsends-Inlet-Bridge

The TI bridge was indefinitely closed to traffic in early April of 2017 after an underwater inspection revealed a crack and extensive structural damage on the 75 year old bridge. Built in 1939, Inlet Bridge is now a foundational part of the local community as well as the tourism industry in Townsend, NJ and surrounding towns such as Avalon and Sea Isle. It is a crucial part of Ocean Drive and its closing not only created delays and detours for tourists hoping to see the beautiful views, it also made it harder for residents to enjoy the restaurants and local shops. Construction crews built up the bridge with reinforced steel on the support piers, and it is back up and running this afternoon. This is excellent news for local businesses and residents. Although the hope is that eventually a new span will be built in its place, the repairs will do in the meantime. 

Most readers will have zero concern that their are vehicles are over the 15 ton weight limit, but just for fun, I’ve added a chart of various vehicles and their weights.  I was sure the Jersey Transit buses were way over the limit but wondered about trucks, vans and motor homes. 

vehicles weight for TI bridge