Sea Isle City Real Estate Market Update

Five more homes have gone under contract, making it a total of 41 homes to go under contract since January 1st in Sea Isle City. The homes that have closed since the last post are:

-364 47th Place, asking price $595,000, sold price $550,000

-132 84th Street, asking price $725,000, sold price $690,000

-119 88th Street, asking price $749,900, sold price $650,000

-122 49th Street, asking price $499,000, sold price $462,500

-12 83rd Street, asking price $1,475,000, sold price $1,362,500

-25 78th Street, asking price $550,000, sold price $530,000

-383 43rd Place, asking price $489,000, sold price $435,000

Sea Isle City Recreation Easter Program TODAY!

Today at Dealy Field in Sea Isle City the rec dept. will be having an Easter Program for ages up to 11 years old. Starting at 4pm you can meet the Easter Bunny, have face painting, get an Easter tattoo, participate in the Bunny Hop sack race and then there is the Easter Egg Hunt.

It's always a fun day!!

Sea Isle City Beach Replenishment

GOOD NEWS FOR SEA ISLE CITY!

The wild weather of this winter has taken its toll on the beaches of the Jersey
Shore. In order to maintain our beautiful shoreline, a beach replenishment
project has been scheduled for Sea Isle City. Replenishment will be done
from 93rd Street to 73rd Street. The city may try to extend this project into
the 60’s blocks, but that has not been finalized.

The contract awarded stipulates that the work be completed prior to July 4th,
however recent weather conditions have caused delays that may impact our
target date.

As the project commences, approximately 3 to 4 city beaches will be closed
at any one time. Beaches immediately to the north or south of the fill area
will remain open.

Updates and status of the project can be viewed on Sea Isle City’s website
at: www.seaislecitynj.us.

We encourage you to click on “Receive City
News” at the top of the home page.

Mark Your Calendars! Sea Isle City's City-Wide Open House Weekend Coming Soon!!

Sea Isle City
Open House Weekend
Sat & Sun
April 10th & 11th
11am—3pm

Tour dozens of our homes
currently listed for sale.

Be sure to tell the agents at the Open Houses that Eric & Kelly Blum sent you!! Thanks!

Sea Isle City Real Estate Market Update

We are now at 36 homes to go under contract in Sea Isle City since January 1st. The homes that have closed since the last post are:

-4114 Central Ave, asking price $359,900, sold for $315,000

-32 47th St., asking price $829,000, sold price $775,000

-4406 Venicean, 2nd Floor, asking price $575,000, sold price $555,000

-137 48th St, asking price $649,000, sold price $600,000

-4433 Venicean, asking price $699,000, sold price $680,000

When discussing real estate, everyone always asks, "Are we at the bottom now?", "Is it the right time to buy?", "Do you think prices are still continuing to drop?".

We think by judging the information below, the numbers speak for itself on how Sea Isle City is doing. The following date is provided by the Cape May County Paragon Multiple Listing Service (MLS) and refers to townhouses only to sell in Sea Isle City. Judging by the info below we really do think that we are at the bottom. We don't think prices are going to sky-rocket up, but we also don't think they are going to be dropping significantly either. With interst rates still hovering around 5% for a 30 year conventional mortgage with no points this really could be the moment you were waiting for!

#of Townhouses Sold in Sea Isle City

2006------ 2007 -------2008 ------2009
100 --------159 ---------109-------- 119

Sea Isle City Sales Prices of these Townhouses
2006 --------2007 ----------2008 -------2009

Average
$890,319---- $815,000----- $715,213 ---$720,541

Median
$795,000 -----$734,000--- $700,000 ---$700,000

Sea Isle City Commercial Development News

Exciting things are happening in Sea Isle City with commercial development!

The Diamonds Liquer project is moving along smoothly and is really adding a nice touch to the downtown area. Love the "diamond" windows to tie it all together! There will be 3 commercial units on the first floor, one being Diamond Liquers. The other two units will be take-out places--Boardwalk French Fries, the other being a Sushi Shop. There are still 3 residential condos available (8 sold) for $439K.

Then there is the Busch's Development project. This summer everything stays the same as it has in the past, but then big changes are in store!

Phase 1 will be on the west side of Landis between 86th and 87th Street. There will be 2-3 sit-down restaurants with full bars, 13 units which will be 4BR, 3BA ($499K) and 3BR, 2BA ($439) with lots of upgrades! During this time Busch's will be run as a take out restaurant out of their prep kitchen. It will be a lovely Victorian looking building. (if you would like to see the elevation or plans let me know!)

Phase 2 will be on the west side of Landis between 87th and 88th Streets and this will be where Busch's puts in their new sit-down restaurant and there might be an additional restaurant there as well. There will be 14 residential condos.

Phase 3 will be on the east side of Landis between 86th and 87th Street. There will be commercial on the bottom, right now the developers would like it to be retail. Then there will be 15-16 units on top.

All of the Busch's development will include parking!

Sea Isle City Real Estate Market Update

28 Homes have gone under contract since January 1st, 2010, which isn't too bad considering all of the awful weather we have had so far! Here are the homes that have closed since the last post:


-125 75th Street, asking price $425,000, sold price $365,000

-126 39th Street, asking price $609,000, sold price $540,000

-213 56th Street, asking price $649,000, sold price $630,000

-8 68th Street, asking price $650,900, sold price $600,000

-7101 Central, asking price $654,737, sold price $612,000

-237 77th Street, asking price $729,000, sold price $695,000

-114 56th Street, asking price $749,000, sold price $725,000

Boating Safety Class Being Offered in Sea Isle City

BOATING SAFETY CLASS
Saturday, April 24, 2010, 8:30 am – 4:30 pm,
Community Lodge, $40, Ages 13 & older
Info: (609) 263-0050

Events in Sea Isle City for March and April

EVENTS IN SEA ISLE CITY

MARCH/ APRIL, 2010
KIX McNUTLEY’S 20TH ANNUAL ST. PATRICK’S DAY PARADE
Saturday, March 13, 2010
3:30 pm, Rain or Shine
93rd St. – 63rd St. & Landis Ave.
Info: (609) 263-4461 Ext. 230

EASTER PROGRAM
Wednesday, March 24, 2010 (Rain Date: March 31)
4:00 pm
Dealy Field – 59th St. & Central Ave.
Ages up to 11 years
Info: (609) 263-0050

12TH ANNUAL OCEAN DRIVE MARATHON
Sunday, March 28, 2010
Cape May to Sea Isle City, 9:00 am
Sea Isle 5K Run/1.5M Walk, Registration 8:00 am, Run/Walk 9:45 am
Info: (609) 523-0880

ENVIRONMENTAL COMMISSION BEACH CLEAN UP
Saturday, April 24, 2010
10:00 am – 12:00 pm
JFK Blvd. & the Beach
Info: (609) 263-6000 Ext. 2

AEROBICS
Mondays, Wednesdays & Fridays - Adults, 9:00 a.m. @ Community Lodge
$5/class or $40/10 session pass

YOGAFIT
Mondays & Fridays @ 7:30 a.m., Wednesdays @ 7:00 p.m., $10/class
Info: (609) 602-3398 or www.njbeachYOGA.com

SENIOR CITIZENS SIT & BE FIT
Wednesdays & Fridays, 2:15 – 3:00 p.m. @ Community Lodge, No fee

*VISIT THE SEA ISLE CITY WEBSITE AT www.seaislecitynj.us *