Single Family Bayfront Sales in the LBI Real Estate Market between January 1st, 2015 and June 1st, 2015
Bayfront Real Estate Sales on Long Beach Island
Long Beach Island Real Estate
There are three waterfront locations in the LBI real estate market, each with their own unique attributes. For boaters, bayfront and lagoon front homes offer great appeal, but these waterfront locations may come with a high price, depending on the home style and location. Tracking bayfront real estate sales on Long Beach Island is a good first step to understanding waterfront real estate in the area.
Bayfront Real Estate Sales on Long Beach Island
Between January 1, 2015 and June 1, 2015 sales of single family homes on the bayfront were as follows:
- There were a total of 11 closed transactions on the bayfront
- The average sales price of a single family home was $1,570,900
- The average price per square foot of a bayfront home on LBI was $570.77
- On average homes spend 181 days on the market
The least expensive bayfront home to sell was 112 W. 15th St. in North Beach Haven. This home spent 318 days on the market, and sold for $416.11 per square foot. The most expensive home to sell was 12208 N. Old Whaling Lane in The Dunes. This impressive home, which offers top-of-the-line amenities sold for $2.22 million, after spending 106 days on the market. This home sold for $740.67 per square foot. The difference in property values is an excellent demonstration of how prices can vary from location to location, as well as the value in a new or near new home in the LBI real estate market.
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Buying a Bayfront Home in the LBI Real Estate Market
Buying a bayfront home on Long Beach Island involves a number of steps that are not present in most real estate transactions. For example, a Riparian Right (the ability to construct a dock), can add a great deal of value to a property. Additionally, the location on Long Beach Island and, more importantly, the proximity to the inlets can have an impact on the value. If you are considering building a new home on the bayfront, CAFRA must also be taken into consideration when looking at the purchase of a property.
For more information about bayfront real estate sales on Long Beach Island or the LBI real estate market in general, contact me and I will be happy to help.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.BuyLBI.com
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