A stunning house in Avalon has recently sold for an incredible $4.6 million, making it the most expensive residential real estate sale in Cape May County in the past week. This luxurious property has set a new standard in the local real estate market.
During the past week, a total of 90 residential real estate sales were recorded in Cape May County. The average price of these sales was an impressive $751,831, which is approximately $491 per square foot.
It’s important to note that the mentioned prices are based on real estate sales in which the title was officially registered during the week of September 4th, although the properties may have been sold earlier. This gives us an accurate picture of market trends during this specific period.
The sale of the house in Avalon for $4.6 million highlights the desirability and appeal of the area. Avalon has long been known for its beautiful beaches, charming community, and luxurious properties. With this recent sale, Avalon solidifies its reputation as a major destination for high-end real estate.
This impressive transaction also serves as a reminder of the strength of the Cape May County real estate market. Despite the ongoing challenges faced by the economy as a whole, the demand for luxury properties in this region remains solid.
Overall, the recent real estate sales in Cape May County exemplify the thriving local market. With the sale of the house in Avalon leading the pack, the area continues to attract buyers in search of exceptional properties in a captivating coastal setting.
Definitions:
– Residential real estate: Refers to properties designed for residential use, such as houses, apartments, or condos.
– Cape May County: A county located in the southernmost part of the Cape May Peninsula in New Jersey. It is known for its beautiful coastline and popular tourist destinations.
– Avalon: A municipality in Cape May County, New Jersey, known for its pristine sandy beaches and luxury residences.
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