South Jersey Realty Agent Sees Soft-Market Opportunity For Shore Buyers

AVALON, N.J. (CBS) – For those of you who dream of owning a vacation home “down the shore,” now may be the best time in a long time to do it — if you can afford it.

The real estate bust of the last couple of years has bottomed out, realtors say, and prices aren’t going to get any lower.

In the high-priced Avalon/Stone Harbor area, for example, Avalon Realty co-owner Paul Leiser says prices dropped about 30 percent during the lean times.

Sale prices since the first of the year have averaged $1.4 million, Leiser says, and you’d be surprised who’s buying.

“There are quite a few younger people nowadays, it seems, who have made it big in technology, industries, what have you,” he says, “so we have seen some fairly young people — I would say in their 40s.”

If that $1.4-million mark is still a little pricey for you, he suggests you might try Ocean City, Sea Isle City, or the Wildwoods.  And bayside properties are more of a bargain, too.

But Leiser sees prices heading up sooner, rather than later.

Reported by David Madden, KYW Newsradio 1060

Top Content On CBSPhilly

More from David Madden

More From CBS Philly

Latest Forecast
Weather App

Watch & Listen LIVE