2014 Was A Great Year For The LBI NJ Real Estate Market

Long Beach Island Real Estate Home Sales in 2014

2014 Was A Great Year For The LBI NJ Real Estate Market
2014 Was A Great Year For The LBI NJ Real Estate Market

Long Beach Island Real Estate

2014 ended one of the most positive years in the LBI real estate market. Both the overall number of homes sold and the average sales price were substantially higher. With much of the fear from Hurricane Sandy had passed, and major improvements having been made to Long Beach Island, buyer confidence is an all time high. In addition to homeowners renovating or building new construction, there have been a number of speculative real estate investments that have yielded positive returns. The overall positive climate on Long Beach Island showed why 2014 was a great year for the LBI NJ real estate market.

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2014 Was A Great Year For The LBI NJ Real Estate Market

Sales of single-family homes on Long Beach Island in 2014 were as follows:

  • 377 single-family homes sold on Long Beach Island in 2014
  • The average price of a single-family home was $974,864
  • Homes spent an average of 145 days on the market

The least expensive home to sell was 235 W. 18th St. in Ship Bottom. This storm damaged home was on the 40 x 100 lot and sold for $297,500. The most expensive home to sell was 1042 –E Long Beach Boulevard, a five bedroom, four bathroom home with an additional two half bathroom bayfront estate in North Beach. This 5,500 square home sold for $5,250,000 after spending 64 days on the market.

Long Beach Island Real Estate Home Sales

Not since the height of the real estate market have seen such positive numbers. This is certainly not to further the market has become inflated, but rather improvements made to Long Beach Island are paying off. While Hurricane Sandy was indeed a tragedy, it was also an opportunity. Hurricane Sandy helped to raise awareness which prompted a positive beach replenishment project, permitted major infrastructure upgrades to Long Beach Island, and made available funds for renovation or new construction. These factors combined with an improving economy has helped to create a very favorable environment for Long Beach Island real estate market. For more information about why 2014 was a great year for the LBI NJ real estate market or you have any questions about home sales on Long Beach Island, contact me and I will respond right away.

By : 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