Barnegat Light Real Estate 2016 Second Quarter Sales

Long Beach Island Real Estate

Barnegat Light Real Estate 2016 Second Quarter Sales

Long Beach Island Real Estate
Long Beach Island Real Estate

Long Beach Island Real Estate

The real estate market in Barnegat Light showed impressive activity during the second quarter of 2016. On the whole, the Long Beach Island real estate market showed steady activity and evidence that the market is rising. Speaking specifically to the Barnegat Light real estate 2016 second quarter sales market, the average price remained approximately the same over the course of the past year. However, the number of homes sold was significantly higher. Overall, things are looking up for the LBI New Jersey real estate market.

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Barnegat Light Real Estate 2016 Second Quarter Sales

Sales of single-family homes in the Barnegat Light real estate market were broken down as follows:

  • There were a total of 14 single-family homes sold.
  • The average price of a single-family home was $751,500.
  • The average price per square foot of a single-family home in Barnegat Light was $487.57.
  • On average, homes spent 171 days on the market and sold for 94.11% their listing price.

The least expensive home to sell was 12 W 20th Street. This is a small two bedroom one bathroom home being sold strictly as is. While there was a house on the property, for all intents and purposes, this was a land sale transaction. The home was initially listed for $425,000 and sold for $400,000. By contrast, the most expensive home to sell was an oceanfront located at 1713 Seaview Ave. This home, which was also essentially sold as a teardown, was listed for $1,495,000 and sold for $1,435,000. It is interesting to note that the number of sales transactions in the Barnegat Light real estate market during the second quarter were being sold with the intention to build new. This speaks to the overall confidence in the LBI real estate market, as buyers are willing to invest a great sum of money in the development of the area.

Long Beach Island and the Barnegat Light Real Estate Market

The real estate market on Long Beach Island has been showing signs of improvement throughout 2016. While the year got off to a rather slow start, the number of homes sold and the average price for both have been increasing. The trends we see in the Barnegat Light real estate market during the second quarter reflect the general trend of redevelopment and improvement to older homes. This significant investment in the area helps to not only improve the look and feel of the area, but also increase the overall value of homes for sale in the Long Beach Island New Jersey real estate market. For more information about Barnegat Light real estate 2016 second quarter sales or the LBI 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 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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