Oceanblock Home Sales in the LBI Real Estate Market Summer 2013

Oceanblock Long Beach Island NJ Real Estate Transactions in Summer 2013 on LBI

Oceanblock Home Sales in the LBI Real Estate Market Summer 2013
Oceanblock Home Sales in the LBI Real Estate Market Summer 2013

Long Beach Island Real Estate

The LBI real estate market is diverse in the offerings and price ranges available to buyers. There are small condominiums and time shares that may be purchased for less than $200,000 and there are multi-million dollar waterfront estates that are nearly endless in their size and their amenities. In addition there are a variety of locations available to home buyers on Long Beach Island New Jersey. Here we will examine Oceanblock Home Sales in the LBI Real Estate Market Summer 2013 to gain a perspective for those looking to buy or sell in this particular location.

Oceanblock Home Sales in the LBI Real Estate Market Summer 2013

The value of oceanblock homes on Long Beach Island can equal or exceed oceanfront and bayfront homes in some cases. Depending on the size of the house and the views offered, the value of an oceanblock home can be substantial. In Summer 2013 (June 1st 2013-September 1st 2013), oceanblock home sale transactions on Long Beach Island were as follows:

  • 10 homes sold on the oceanblock on Long Beach Island between 6/1/2013 and 9/1/2013
  • The average price of an oceanblock home was just over $740,000
  • Oceanblock homes sold for an average of 94.4% of their listing price
  • On average, oceanblock homes on Long Beach Island spent a little over 100 days on the market

It should be pointed out that one of these transactions was not a “true” oceanblock home in that it was located in Holgate on the bayside of Long Beach Blvd. While there is a grey area in the exact definition of an oceanblock home, the general accepted defination is that there are no streets to cross between the house and the beach entrance (although in fairness many homes in Brant Beach are considered to be oceanblock despite having to cross over Beach Ave.). This Holgate property helped to drive down the average sales price as it traded for $440,000 as it was also storm damaged. The most expensive¬†Oceanblock Home Sale in the LBI Real Estate Market Summer 2013 was a home built in 2011 which traded for $1,225,000.

Buying and Selling Oceanblock Homes in the Long Beach Island NJ Real Estate Market

If you are considering buying or selling an oceanblock home on LBI, it is important to have an understanding of the oceanblock real estate market on Long Beach Island. The summer sales data shows us that a properly price home will sell for a higher price and in less time than the LBI averages have been showing us. A careful comparison must be made prior to submitting or accepting any offer for not only oceanblock homes but also the LBI real estate market as a whole. For more information about Oceanblock Home Sales in the LBI Real Estate Market Summer 2013 please do not hesitate to contact me, Nathan Colmer and I will be happy to answer any questions you may have.

Nathan Colmer | The Van Dyk Group

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

www.BuyLBI.com

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