Single Family Sale Transactions in the LBI Real Estate Market, and Beach Haven Park
The real estate market in Beach Haven Park showed strong activity during the first quarter. In fact, it had one of the strongest quarters in the entirety of the LBI real estate market for single family homes sales. This is especially significant considering Beach Haven Park is the one small section of Long Beach Township on Long Beach Island. Beach Haven Park first-quarter real estate sales in 2016, showed a great improvement over the first quarter of 2015 and reflected the trends we see elsewhere in the LBI real estate market.
Beach Haven Park First Quarter Real Estate Sales in 2016
Sales of single-family homes in Beach Haven Park real estate market were as follows
- There were eight closed single-family homes
- The average price of a single-family home sales was $1,060,125.
- The average price per square foot was $437.29.
- The sale price to list price ratio was 93.47% and homes spent an average of 143 days on the market
The least expensive home to sell was 9206 Long Beach Blvd. This was a unique home in the bank owned, something we rarely see in the LBI real estate market. The home was flooded in Hurricane Sandy and was sold for land value. The home sold for $258,500 which represented a sale price of 95.78% of the original listing price. This home sold for $164.54 per square foot, which essentially translates the land value. A property spent a total of 55 days on the market. Given the uniqueness of this sale, I would also like to highlight the next least expensive sale, which was located at 20 East California Ave. This was a Cape Cod style home, which was above base flood elevation on the Oceanside in Beach Haven Park. The home was sold to being used by family rather than torn down. This house five bedrooms, two full bathrooms and sold for $532,750. This translates to price per square foot of $399.06. The most expensive home to sell was 117 East Kansas Ave. which was a large for bedroom 3 1/2 bath home with nearly 3,200 sq feet of living space. This home sold for $2,100,000, before it was even listed on the open market. This constituted sales price of 95.67% of the original listing price and a price per square foot of $659.96.
The trends we see in Beach Haven Park real estate market were largely reflective of those we see elsewhere throughout Long Beach Island. The market showed a healthy mix of end-user homes, and would be teardown’s with a definite way towards homes that are more move in ready. As we generally will say, homes that are above base flood elevation were largely preferred to those that are below so it is important to keep in mind. The cost of flood insurance. When buying or selling and how they relate to the future value of a home in the LBI real estate market. For more information about beach Haven Park first-quarter real estate sales in 2016. For the Long Beach Island real estate market general, contact me and I will be available to answer any questions you have.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
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