Long Beach Island Real Estate Oceanside New Construction Home Sales
The LBI NJ real estate market has seen mass appeal for new construction homes, especially those located on the oceanside, oceanblock and oceanfront areas. Homes in these areas are viewed as being more convenient walks to the beach as they do not have to cross over the main road, Long Beach Blvd, Bay Ave or Central Ave depending on which area of LBI you are in. Understanding oceanside new construction sales int he LBI NJ real estate market is a key step to understanding the overall health of the LBI real estate market since it is one of the most highly sought after facets of the market with limited inventory.
Oceanside New Construction Sales in the LBI NJ Real Estate Market
For this sales breakdown I have looked at single family homes that have sold over the past six months east of the main road (but excluding oceanfront homes). Sales were as follows:
- Address Beds FB HB Liv SqFt Current Price
- 4912 S Long Beach Blvd 4 3 1 2,520 $1,160,000
- 226 Glendola Avenue 4 3 1 2,293 $1,225,000
- 224 Glendola Avenue 4 3 1 2,293 $1,270,000
- 119 19th Street E 4 3 1 2,456 $1,295,000
- 221 Jefferis Avenue 4 3 1 2,000 $1,360,000
- 108 E 22nd Street 5 3 1 2,540 $1,514,000
- 17-B Long Beach Blvd 6 6 2 5,254 $3,400,000
A look at the data shows some interesting trends. The average price of a single family home on the oceanside was $1,603,429. This is higher than the average price point of the LBI real estate market which usually trades around $1,000,000. The average price per sq foot was $571.27. On average homes spent 109 days on the market and sold for 96.29% of their listing price. The largest deviation between listing and sales price was 17-B Long Beach Blvd which sold for only 92.02% of the listing price.
Long Beach Island Real Estate New Construction
There are excellent opportunities in the LBI real estate market for new construction, in both building your own home from scratch or from buying existing new builds. Many of these new homes will sell before ever going to the market so being in tune with the current trends is key to spotting a good value. With the average price of an oceanside new home around $1,600,000 it is important to understand what determines value before making such a large investment. For more information about oceanside new construction sales int he LBI NJ real estate market or about buying a home in the Long Beach Island real estate market, please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
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