Single Family Sale Transactions in Beach Haven Gardens and the LBI Real Estate Market
The real estate market in Beach Haven Gardens reported two close transactions during the first quarter of 2016. While two transactions may not seem like a significant amount of activity, it actually shows improvement when compared to the first quarter of 2015. It is important to remember that Beach Haven Gardens is a small subsection of Long Beach Township, and therefore constitutes a very small percentage transactions in the LBI real estate market. That said, Beach Haven Gardens real estate first-quarter sales in 2016 highlight some interesting trends we see throughout the real estate market on Long Beach Island.
Beach Haven Gardens Real Estate First Quarter Sales in 2016
Single-family home sales in the Beach Haven Gardens real estate market on Long Beach Island were as follows:
- There were two closed transactions
- The average sale price was $542,500.
- The average price per square foot was $537.86.
- The sale price to list price ratio was 95.22% at home spent an average of 43 days on the market
The two homes sold reflects trends we see elsewhere throughout the LBI real estate market. The least expensive home to sell was 3005 Beach Ave. which was an older house in a poor state of repair. This home sold for $470,000, which represented a price per square foot of $343.57. This homes spent 76 days on the market and sold for 94.19% of the original listing price. This home was sold as a tear down and a new construction is currently occupying that piece of property, and is on the market for sale at approximately $1,300,000. This highlights the value of investment in the LBI real estate market. The other home to sell during the first quarter was 2809 Beach Ave. 2809 Beach Ave., was a quaint beach house with two bedrooms and one a half bathrooms. This home was sold to be used by the new buyer and traded for $615,000 after spending only 10 days on the market. This represents a very high price per square foot for $732.14. The home sold for 96.24% of the original listing price.
Beach Haven Gardens and the Long Beach Island Real Estate Market
Home sales in Beach Haven Gardens certainly reflect the trends we see throughout the LBI real estate market. There always has been and continues to be a significant demand for teardown’s to make way for new construction. We see this in the case of 3005 Beach Ave. and potential for a huge profit to be realized by such an investment. The other sale, 2809 Beach Ave. shows a buyer’s willingness to purchase an affordable beach house that can be used without the need for significant renovation or reconstruction. There is certainly a market for both on Long Beach Island, and there appears to be a continued interest in all types of property. For more information about Beach Haven Gardens real estate first-quarter sales in 2016. For the Long Beach Island real estate market general, contact me and I will be happy to answer any questions you.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
You May Also Like: