Beach Haven Oceanside New Construction Sales

Beach Haven Oceanside New Construction Sales

Beach Haven Oceanside New Construction Sales

Beach Haven Oceanside New Construction Sales

 

Long Beach Island Real Estate

The LBI real estate market has been showing significant improvement over the past year. The number of homes sold in the average sales price range has been on the rise and there are a healthy number of pending transactions. One area where we have been witnessing strong interest is Oceanside new construction. Looking at Beach Haven Oceanside new construction sales is a great way to gauge the overall health of the market and understand an excellent investment opportunity.

Beach Haven Oceanside New Construction Sales

Beach Haven Oceanside new construction sales on Long Beach Island are broken down as follows:

  • Over the past year, there have been six closed new construction transactions in Beach Haven.
  • The average price of a new construction single-family home was $1,434,583.00.
  • The average price per square foot of a new construction home was $572.59.

It is important to keep in mind with averages that low sales or high sales can skew the statistics. This is especially true with the sale of 225 4th St. in Beach Haven. This was the least expensive new construction home to sell in the Beach Haven real estate market, and sold for only $478.26 per square foot. This had to do with the location being behind the gas station and across from a restaurant. In any real estate sale there needs to be considerable adjustments made for a poorer location. Another sale to look at is 217 Fairview Ave. which sold for $1,250,000.00, after spending over a year on the market. This home sold for $500 per square foot which was well below the other supporting comps. While this was a very nice house, it was not reversed living which was a major design flaw. When these two transactions are removed from the equation, we see that an average sales price and an average price per square foot are considerably higher. A more appropriate number to use for a good location with an updated design in a new construction home in the LBI real estate market is in the mid $600 per square foot range.

Buying a Home in the LBI NJ Real Estate Market

Buying a new construction home in the Beach Haven real estate market on Long Beach Island can offer numerous advantages. Apart from having the most updated designs in floor plans, new construction is built to the current flood elevation requirements thus lowering the cost of flood insurance and limiting the risk from future storms. New construction is an expensive purchase, generally more than buying an older home, so it is important for any buyer to also consider the cost of building new construction in the LBI real estate market before buying into the LBI market. For more information about Beach Haven new construction sales or information on the LBI real estate market in general, please do not hesitate to contact.

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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