Nathan Colmer | The Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
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.
Danish explorers first scouted long Beach Island in the mid-1600s, and the name "Barnegat" is a loose translation meaning "inlet of the breakers." The LBI area at that time was inhabited seasonally by Native Americans who were drawn to the area for the rich hunting and fishing. The area remained primarily unchanged until the .mid-1800s
During the 19th Century, Long Beach Island began to gain fame as a summer resort destination. The town of Beach Haven quickly grew to include many stores, restaurants, and elegant hotels such as The Baldwin, which rivaled anything in New York City or Philadelphia. Tourism was given a boost when a rail line was installed, making getting to and from Long Beach Island fast and easy.
During the 20th Century, LBI continued to grow as a residential area, and housing spread to other Island areas. Many of the towns and sections we know today borrow their name from Beach Haven to play off the area's popularity (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 market, including HGTV and the Food Network.
Long Beach Island is a barrier island located off the southern coast of New Jersey. LBI is continuously ranked as one of the top beaches in NJ, and for a good reason! The area has a year-round population of about 20,000 residents. This population count swells to approximately 200,000 residents and tourists anytime during the summer season! It is a family community that offers a clean and quiet environment for summer enjoyment.
Long Beach Island is broken into several municipalities, each with its own governing body. It is necessary 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 (but the same beach badge is used each section). Each section of Long Beach Township offers something different, so be sure to explore the other areas when looking to visit LBI or invest in the Long Beach Island real estate market. Each town on Long Beach Island boasts its 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 an 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 Loveladies and North Beach areas and less expensive in Ship Bottom, located near the bridge, or Holgate at the south end of the island.
The LBI real estate market comprises several categories, including residential sales (single-family homes, condos, etc.), multi-family homes (duplexes and triplexes), and commercial real estate.
The LBI real estate market has proven to be reliable and stable on the whole. Typically, each month results in 25-30 single-family homes being sold with an average sale price of about $1,200,000-$1,500,000. Homes spend about 60 days on the market and sell for 96%-98% of their listing price. COVID created a significant increase in market activity and prices at the end of 2020 and 2021 as buyers looked to invest in a second home market.
Hurricane Sandy had a significant impact on the LBI area and the LBI real estate market. It is important to check for storm damage when buying a house and the current and future flood insurance rates. Likewise, COVID-19 has had a notable impact on the LBI real estate market with higher buyer activity levels and lower inventory levels.
Short sales and bank foreclosures have never been a significant 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.
Before starting any serious real estate search, it is vital to understand 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 renting in the different sections of LBI. Location is, above all else, the most impactful part of an LBI real estate sale.
When looking to buy or rent a home in the LBI real estate market, it is crucial 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 of 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 found in a few sections on LBI. These lagoons empty to the bay.