Single Family Home Sales in the Barnegat Light Real Estate Market
The single family home real estate market in Barnegat Light on Long Beach Island had a strong first quarter. The heightened activity and higher average price reflect the trends we see elsewhere in the LBI real estate market. Barnegat Light first-quarter real estate sales reflect the desire for home buyers to purchase elevated homes above base flood elevation in prime locations.
Barnegat Light First Quarter Real Estate Sales in 2016
Sales of single-family homes in the Barnegat Light real estate market during the first quarter are broken down as follows:
- There were four single-family homes sold.
- The average price of a single-family home was $806,750.
- The average price per square foot was $410.07.
- On average, homes sold for 96% of their listing price and spent 76 days on the market.
The least expensive home to sell was 2409 Central Ave. which was a three bedroom, two bathroom home. This home sold for $605,000 after spending 43 days on the market. This represents the sales price of $430 .91 per square foot and a listing price to sales price ratio of 97.7%. The most expensive home to sell was 27 E. 11th St. which was a four bedroom, 3 1/2 bathroom oceanside contemporary. This house is located off the beach and offers numerous amenities. This home sold for $990,000 after spending 154 days on the market. The home actually sold for only 90% of its listing price which shows the starting price point was too high. It is important to point out that location in Barnegat Light, like elsewhere in the Long Beach Island real estate market, has a great deal to do with price. For example, 27 E. 11th St. is located on the northern end of Barnegat Light, and has much wider beach. This can be a deterrent for some buyers, and leads to lower average sales price relative to the more southern areas of Barnegat Light.
Home sales in Barnegat Light in 2016 showed improvement when compared to the first quarter of 2015. In 2015, there were only three single-family homes sold with an average price of $764,000. When compared to 2016, we see additional homes sold at a much higher average sales price. Overall, the Long Beach Island real estate market has continued to grow with more activity and at a higher price point. There are many investment opportunities, as well as a number of second home options. For more information about Barnegat Light first-quarter real estate sales in 2016 or the Long Beach Island New Jersey real estate market in general, contact me and I will be happy to answer any questions you have.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | email@example.com
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