Ocean Grove. May 14, 2021. Blogfinger photograph. These tiny cottages are not for sale…..yet.
Paul Goldfinger, Editor Blogfinger.net
The real estate market in the Grove is explosive with unheard of prices. A small cottage can sell for $300,000 to $400,000. A small house far from the ocean with 1500 square feet sold for $600,000. A large house on Ocean Avenue is priced at $ 4.5 million. A new two bedroom condominium in the Aurora is for sale at $1.1 million.
There is a buying frenzy in multiple markets. The cottages above would probably be priced at $300,000 but they don’t look large enough to lie down in.
So it is definitely a sellers market, and there are plenty of buyers around who will pay these high prices. Sometimes houses here sell in one day.
If you are planning to sell, you might consider doing so soon, because the Biden administration may be raising the capital gains tax.
DINAH WASHINGTON: