In fact, the only towns that saw a sales price decrease between 20 were Atlantic City and Brigantine. The April 2015 numbers from real estate site Trulia put the average price per square foot of home sales in Avalon at $668, up more than 19 percent from the same period in 2014. Dechert points out that the pace of home sales is brisk, and interest is high: “We had a very active December, and it’s carried over into this year.” He also notes that there’s a lot of new construction in Avalon, Stone Harbor, Sea Isle City and Ocean City - a trend we’ve also seen in Margate, and a sign that the bounce-back is strong. Other towns may not have recovered as quickly (Avalon is still down 20 percent over 10 years), but numbers don’t tell the whole story, because things are looking up pretty much across the board. From that perspective, some Shore towns have fared really well, with prices in Margate up 43 percent, Cape May up 21 percent, and Stone Harbor up 11 percent over the past decade. Here’s the good thing about second homes, though: Owners usually take the long view, looking at value over 10 years or more.
In Margate and Ventor, Hurricane Sandy made 2013 a worse year for home sales prices than 2009. But it wasn’t just the financial storms that took a toll. For instance, in the upper-echelon town of Avalon, median home sales prices dropped 36 percent between 20.
The recession did some damage to the Shore market, confirms Allan Dechert, co-owner of Avalon-based agency Ferguson Dechert.
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