Nathan Colmer | The Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
LBI or "Long Beach Island" has offered family fun for over 200 years! Long Beach Island New Jersey provides a rich history and a legacy of family memories. From the beautiful white sand beaches to the fun family attractions, read on to learn more about LBI NJ.
Long Beach Island was first scouted by Danish explorers in the mid 1600's and in fact, the name "Barnegat" is a loose translation meaning, "inlet of the breakers". The LBI area at that time was inhabited by Native Americans who were drawn to the area for the rich hunting and fishing.
During the 19th Century Long Beach Island began to gain fame as a summer resort destination. Tourism was given a boost when a rail line was installed making getting to and from Long Beach Island fast and easy. The town of Beach Haven quickly grew to including many stores, restaurants and elegant hotels such as The Baldwin which rivaled anything in New York City.
During the 20th Century LBI continued to grow as a residential area and housing spread to other areas of the Island. Many of the towns and sections we know today borrow their name from Beach Haven to play off the popularity of the area (North Beach Haven, Beach Haven Terrace, etc).
Today LBI is known as a family beach resort with a friendly and clean environment. LBI has been featured on many nationally televised programs highlighting the area and the real estate marketing including shows on HGTV and the Food Network.
Long Beach Island is a barrier island located off the southern coast of New Jersey. LBI is a family community that offers a clean and quiet environment for summer enjoyment. LBI is constantly ranked as one of the top beaches in NJ and for good reason! The area has a year-round population of about 20,000 residents and swells to about 200,000 residents and tourists at anytime during the summer season!
Long Beach Island is broken into several municipalities, each with their own governing body. It is important to understand what town you live in on LBI as most beach badges are only accepted in the town they were purchased. From North to South the town are:
Long Beach Township is further divided into sections (although note the same beach badge is used each section). Each section of Long Beach Township offers something different so be sure to explore the different areas when looking to visit LBI or invest in the Long Beach Island real estate market. Each town on Long Beach Island boasts their own beach patrol to keep the ocean and beaches safe.
Each town on Long Beach Island offers something different, be it the peace and quiet of Barnegat Light, the easy on and off access of Ship Bottom, or the non-stop fun of Beach Haven. Before investing in a LBI real estate transaction, you should learn about the different real estate markets of Long Beach Island.
LBI has different factors which play into determining the property values of that area. Generally speaking, home prices are higher on the north end of LBI in the areas of Loveladies and North Beach, and less expensive in the areas of Ship Bottom, located near the bridge, or Holgate at the south end of the island.
The LBI real estate market is made up of several different categories which include residential sales (single family homes, condos, etc), multi-family homes (duplexes and triplexes), and commercial real estate.
The real estate market has been improving. Typically, each month results in 25-30 single family homes being sold with an average sale price of about $1,000,000. Homes spend about 100-150 days on the market and sell for 92%-96% of their listing price.
Hurricane Sandy had a major impact on the LBI area and the LBI real estate market. It is important to check for storm damage when buying a house, as well as the current and future flood insurance rates. This will be covered in detail later on.
Short sales and bank foreclosures have never been a major factor in the LBI real estate market. This is partly due to summer rentals helping to cover the costs of owning a home on LBI, however, there are many opportunities in the market with storm damaged homes.
Before starting any serious real estate search, it is important to gain a perspective of the different LBI areas and what they have to offer. This can be accomplished by taking a short driving tour of LBI with me or by renting in the different areas of LBI.
When looking to buy or rent a home in the LBI real estate market, it is important to understand the different property locations on Long Beach Island. Property values will vary greatly depending on the location of a home in the LBI real estate market.
Oceanfront-This refers to homes that are located directly on the beach. This is typically the most expensive form on real estate on LBI.
Ocean block-These homes are located on the initial block between the beach and the first road running parallel. These roads are Beach Ave, Atlantic Ave or Ocean Blvd.
Oceanside-These homes are located on the East side (Oceanside) of Long Beach Blvd between Long Beach Blvd and the last parallel road before the Oceanblock.
Bayside-Bayside homes are on the West side (bayside) of Long Beach Blvd.
Bayfront-These homes are located directly on the bay.
Lagoon front-These homes are located on the lagoon or canals that are found in a few sections on LBI. These lagoons empty to the bay.