Affordable Single Family Homes in the LBI NJ Real Estate Market

Average Price Per Sq. Foot For Single Family Homes Under $550,000 on Long Beach Island NJ

Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Affordable Single Family Homes in the LBI NJ Real Estate Market
Affordable Single Family Homes in the LBI NJ Real Estate Market

 

Single Family Home Sales on Long Beach Island NJ

The LBI real estate market has been very active and nowhere is this more evident than in the sale of single family homes on Long Beach Island NJ. While there are many single family homes that sell for $1,000,000, $2,000,000 or more, there are also many Affordable Single Family Homes in the LBI NJ Real Estate Market. Here we will be looking at non-storm damaged single family homes that have recently sold in the LBI real estate market. These are properties that can be used right away by their new owners with minimal work needed. You can Click here to search all homes for sale in the Long Beach Island NJ real estate market

Affordable Single Family Homes in the LBI NJ Real Estate Market

In the month of December 2013 there were a total of 33 single family home sales in the LBI NJ real estate market. The least expensive sale was a storm damaged free standing house that traded for $111,000 and was on a very small lot with limited ability to renovate. The most expensive sale was an 8 bedroom oceanfront home that sold for over $6,000,000! With such a spread, it is easy for some to believe that owning a home on LBI is not within their reach however this is not the case! There are many Affordable Single Family Homes in the LBI NJ Real Estate Market. In the month of December 2013 there were 4 non storm damaged single family homes that sold under $550,000 in the LBI real estate market. They were:

  • 18 W 4th Street in Barnegat Light which sold for $465,000 Price/ Sq. foot: $411
  • 6508 Harvest Ave in Harvey Cedars which sold for $490,000 Price/ Sq. foot: $567
  • 7 W Jeanette Ave in Beach Haven Crest which sold for $535,000 Price/ Sq. foot: $506
  • 13 W 86th Street which sold for $537,500 Price/ Sq. foot: $508

Of the above sales, the last three were raised ranches on pilings and are built to exceed the current flood zone requirements. The last two, 7 W Jeanette and 13 W 86th Street, offer 3 bedrooms, 2 bathrooms and an open floor plan with decks. These make for excellent beach homes as they offer affordability, ease of care and maximum enjoyment with a great location. In addition, these homes will rent out over the summer months to help with the carrying costs! With an average price of $498/ sq. foot, one can estimate the sale price of many homes in the LBI real estate market. It is important to remember however that the price per sq. foot will vary greatly depending on the condition of the property, the location and the overall size.

Buying Affordable Single Family Homes in the LBI NJ Real Estate Market

For those looking to invest in the LBI real estate market, it is important to look at the location of the property (as this is something that cannot be changed), the condition of the property and the additional costs of ownership (such as taxes and flood insurance). A buyer should ALWAYS have a home inspection performed to make sure that the property is safe to occupy and to uncover any damage that may have been caused by Hurricane Sandy. For more information about Affordable Single Family Homes in the LBI NJ Real Estate Market please feel free to contact me, Nathan Colmer, and I will be happy to help!

Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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