Late August is clearing inventory that had been sitting.
Thirteen homes in Ocean City, Sea Isle City, Avalon and Stone Harbor went under contract from Aug. 19 through Aug. 25, carrying a combined $46.8 million in asking value.
The median time on market: 82 days.
Some waited much longer.
2436 Wesley Avenue in Ocean City went under contract at a $7.25 million ask after 331 days on the market.
120 113th Street in Stone Harbor followed at $5.5 million after 327 days.
138 76th Street in Sea Isle City took 262 days before finding a buyer at a $3.249 million ask.
92 E. 23rd Street in Avalon needed 166 days before going under contract at $6.499 million.
The movement was not limited to old listings.
Several fresh properties also found buyers almost immediately, including Avalon homes that went under contract in one and four days.
With the summer winding down, buyers appear to be reaching across the inventory stack.
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In some cases, price helped.
2436 Wesley originally asked $9.5 million before falling to $7.25 million — a $2.25 million cut, or nearly 24%.
120 113th Street began at $5.85 million before settling at $5.5 million.
Patience mattered.
So did price.
By late August, both were finally enough to produce buyers.
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