STONE HARBOR - One month ago, Stone Harbor Tax Assessor Margaret Slavin said the real estate market, in the borough, was “crazy.” Two years after a borough-wide reevaluation, the residential home market was soaring in the middle of a once-in-a-century pandemic.
Slavin returned for her monthly report to the borough’s governing body Oct. 6. She reported dealing with 37 deeds last month.
“In a busy month before this, we might handle 20 deeds,” she added. She indicated that she had 40 deeds to download for October. “This is not going to change anytime soon,” she added.
To underscore her point, Slavin pointed to a recent sale in which a home, bought 18 months previously for $3.15 million, sold again for $3.9 million. “That’s a $750,000 increase in just 18 months,” she said.
In the end, Slavin’s best description of events was one she used before, “The market is still crazy,” she said.