From what I can see it appears to be a bit high. It is assessed at $3.4mm.
The value may also be in the fact that it is a corner lot.
I know a very good agent in Avalon her name is Mary Helverson if you are intertested in purchasing this property she may be able to offer you some advice as she is an expert in that particular area.
If you would like her to contact you, send me an email with your name & phone numer & I'll ask her to call you.
My email is "mjr@ocnj.com"
Regards,
Mike Rayno
Prudential Fox & Roach

Good Morning TMG,

That property is a very unique layout compared to the others. You have the 110' frontage along the dune line. So it is impossible to put it against the other. If you research the sales you see the most common situation is 50' of width with a limited ocean frontage and view.

Fair is in the eye of the beholder, if the property has what you are looking for it would be worth what ultimately a buyer is willing to pay and in this market more buyers are coming back in.

Good Luck ,

Dave Green
RE/MAX at The Shore