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In June, Camden County home sales were down 8.3% compared to June 2017 but the median sold price was up 1.7%. The 152 foreclosure sales were down 15% from June 2017 and constituted 20% of all sales.

The number of homes available for sale in Camden County remained the same in June and is now 11.6% lower than a year ago. The Months Supply of Inventory has dropped from 5.3 months a year ago to 4.7 months due to the increase in sales over the past year and lower inventory.

June sales were 8.3% lower than last June and are 2.3% lower year-to-date. Foreclosure sales were down 15% from last June and comprised 20% of all sales. Nonforeclosure sales were down 6.4% in June although the Property Marketing Period was reduced from 35 days last year to 32 days this year.

The median sold price was up 1.7% compared to last June and is up 1.3% year-to-date. The median sold price of non-foreclosure sales in Camden County in June was $193,750 down 3.6% from June 2017.

The sold price to original list price ratio in June at 97.0% was above the normal range of 92-94%. In June, properties in Camden sold for 98.7% of the current list price up from 98.5% last June.

For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: Info@AppraiseNewJersey.com

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce

Posted in:General
Posted by James M. Hanson on July 31st, 2018 1:44 PMLeave a Comment

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Sales were up 33% from last June and are up 40% year-to-date. Foreclosure sales were 23% of all sales this month and had a median sale price of $61,500 compared to $150,500 for non-foreclosure sales.

Inventory increased by 6 listings this month and is 6.1% higher than a year ago. The Months Supply of Inventory decreased from 6.5 months last month to 6.4 in June, compared to 7.0 months last year.

Sales this month were 33.0% higher than last year and are up 40.5% year-to-date.

The median sold price in Cumberland County was up down 0.4% compared to a year ago and is up 7.6% year-to-date.

The sold price to original list price ratio was at 93.8% in June and 94.3% year-to-date. The sale price to list price ratio in June was 97.8%.

For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: Info@AppraiseNewJersey.com

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce

Posted in:General
Posted by James M. Hanson on July 31st, 2018 1:44 PMLeave a Comment

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Sales were up 8.1% compared to June 2017 and are up 8.1% year-to-date. Prices were down 0.5% compared to last June but are up 0.8% year-to-date. Foreclosure sales were 19% of June's sales, down from 23% in June 2017.

The number of homes for sale during June decreased by 0.6% and is 11.3% below the 2017 level compared to a 13% shortfall throughout the region. The Months Supply of Inventory is at 5.2 months, down from 6.1 months a year ago

Sales were up 8.1% compared to last June and are up 8.1% year-to-date. Foreclosure sales were down 6% from June 2017 and comprised 19% of all sales in June while normal sales were up 13.0% from June 2017. The Property Marketing Period was 34 days, down from 37 last June.

The median sold price in June was down 0.5% from last June but is up 0.8% year-to-date. When the foreclosure sales are removed, the non-foreclosure sales had a median sales price of $206,600 compared $210,500 last June, a 1.9% decrease.

The sold price to original list price ratio of 96.6% was above the normal range of 93-95%. In June the sold price to list price ratio was at 98.7% compared to 98.4% last year.

For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: Info@AppraiseNewJersey.com

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce



Posted in:General
Posted by James M. Hanson on July 31st, 2018 1:35 PMLeave a Comment

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Hard Rock Casino & Ocean Resort Casino are set to open Thursday, June 28th. 

How did it start: 
Hard Rock bought the former Trump Taj Mahal casino in March of 2017 from billionaire investor Carl Icahn. On Jan. 4, Glenn Straub sold Revel to AC OCEAN WALK, a group led by Colorado-based investor Bruce Deifik, for $200 million.

Entertainment: 
Artists Carrie Underwood and Pitbull will perform during Hard Rock’s opening weekend. Underwood will perform Friday and Pitbull will perform Saturday. Hard Rock will also feature stand up comedy with Howie Mandel's Comedy Club. Finally, the casino announced its 365 Live promotion where performers will take stages each day of its opening year. Jerry Blavat will be performing on the Boardwalk stage on Thursday.

Grammy award-winning DJ Diplo will perform Ocean Resort Casino on Friday. Other performers include Kaskade and Jermaine Dupri on June 30 and Sunnery James and Ryan Marciano on July 1.
Games: 
Hard Rock has more than 2,100 slot machines and 120 table games spread out over 167,000-square-feet of gaming space.

Ocean Resort has nearly 2,000 slots and just about 100 table games on 131,000-square-feet of casino floor.

 






Posted in:General
Posted by James M. Hanson on June 27th, 2018 8:56 AMLeave a Comment

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April 10th, 2018 8:26 AM

ATLANTIC CITY — The city’s casinos saw a 22.5 percent jump in gross operating profits in 2017 and a 5 percent increase in net gaming revenue over the previous year, according to state gaming numbers released Monday.

Nearly all of the city’s seven operating casinos made significant gains in 2017, according to data from the state Division of Gaming Enforcement, reporting nearly $133 million more in gross operating profit than in 2016, when there were eight casinos open in the city. Trump Taj Mahal Casino Resort closed in October 2016.

Overall casino net revenue, including online gaming, increased to more than $2.67 billion for the 12-month period ending Dec. 31, compared with $2.5 billion among current operators for the same period in 2016.

Internet gaming accounted for more than $25 million in operating profits in 2017.

Borgata Hotel Casino & Spa once again led the way, reporting more than $290 million in profits last year, up 19.5 percent.

Tropicana Atlantic City saw the largest percentage increase in both profit and net revenue in 2017 compared to 2016. The casino reported nearly $92 million in profit in 2017, while in 2016 the figure was just shy of $54 million, an increase of 71 percent. Trop’s net revenue increased 12.1 percent to $386 million in 2017.

Harrah’s Resort, while reporting the only profit decrease last year, still took in more than $115 million. The year prior, it reported an operating profit of more than $119 million.

Resorts Casino Hotel — which is celebrating its 40th anniversary this year — experienced a 23.6 percent increase in operating profit in 2017. The city’s first casino took in $23.165 million in profits last year, compared with $18.7 million in 2016.

The fourth quarter of 2017 also saw significant gains over the same period in 2016. Net revenue was up 2.9 percent last year compared to the prior year, while operating profits increased $43 million, or 36.5 percent, to $161.5 million in the final quarter.

For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: Info@AppraiseNewJersey.com

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce



Posted in:General
Posted by James M. Hanson on April 10th, 2018 8:26 AMLeave a Comment

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