A Rising Tide in Waterfront Values
Posted by Shawn Clayton — October 3, 2012
“On the waterfront, at least, it appears the dense clouds covering real estate property values have dissipated. For all properties touching water in Monmouth and Ocean Counties, the average sale price for the first four months of 2010 was $809,679 — 35 percent over the $599,096 for the same period last year, according to the Otteau Valuation Group in New Brunswick. And the median price, which statisticians prefer as a market measure because it is less likely to be skewed by unusually high- or low-priced sales, is up 26 percent, to $515,000 from $407,500. (The median is the number at the middle, with half of all sales above and half below.)”
To read the article in its entirety, click here.