Sales of Single Family Oceanside and OceanBlock Homes in the LBI Real Estate Market from January 2016 through June 2016
Long Beach Island New Jersey Real Estate
Sales of single-family homes in the Long Beach Island real estate market are one of the best ways to gauge current market activity and developing trends. Single-family homes represent the largest segment of the LBI real estate market and therefore their performance can help us to determine the best places to invest and the best times to buy or sell. One of the most highly sought after markets in Long Beach Island is that of Oceanside and ocean block homes. These are loosely defined as being east of the main roads, Long Beach Boulevard, Central Avenue Bay Avenue. Oceanside sales in the Long Beach Island New Jersey real estate market have shown some interesting activity throughout the first half of 2016.
Oceanside Sales in the Long Beach Island New Jersey Real Estate Market
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Oceanside Sales in the Long Beach Island New Jersey Real Estate Market
Sales of single-family homes on the Oceanside and Oceanblock areas of Long Beach Island are broken down as follows:
- January: 12 sold sales with an average price of $780,497
- February: 9 sold sales with an average price of $1,048,139
- March: 6 closed sales with an average price of $1,014,583
- April: 10 closed sales with an average price of $1,172,000
- May: 16 sales with an average price of $1,030,938
- June: 8 closed sales with an average price of $929,125
A look at the data shows some very interesting trends. January started off with a very poor average sales price however it was one of the more active months in the LBI real estate market. April and May showed a very strong spring sale season with a high number of sales and some of the highest average sales prices for Oceanside homes this year. It is important for me to point out that it is of the time of my writing this article, June has not reported a full months worth of sale data so it is likely that more homes will sell them at the average sales price will change before the month is over.
Buying a Single Family Home in the Long Beach Island Real Estate Market
Before buying any home in the LBI real estate market is important to do your research and have an understanding of the current trends developing in the LBI real estate market. Overall, the higher end of home sales on Long Beach Island has shown some signs of stagnation. I believe this has to do with the poor showings of the financial markets especially as 2016 started off. There does seem to be some liquidity issues throughout the entire economic world and this can have an impact on the higher end of home sales on Long Beach Island. What this means for both buyers and sellers is that prices must be realistic and homes should be priced in accordance with current market trends. The LBI real estate market is surprisingly resilient and while higher end home sales may have shown some signs of stagnation, there is equal evidence to show that this price bracket is set to increase in activity. Therefore, it is important to evaluate all aspects of a home before entering into any transaction and making sure that the price set for a home is reflective of both the current trends and the possibility of future developments. For more information about Oceanside sales in the Long Beach Island New Jersey real estate market, contact me and I’ll be happy to answer any questions you have.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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