Beach Haven Park Real Estate 2016 Second Quarter Sales on Long Beach Island
Beach Haven Park Real Estate 2016 Second Quarter Sales on Long Beach IslandLong Beach Island Real Estate
The real estate market in Beach Haven Park on Long Beach Island showed steady activity during the second quarter of 2016. Overall, Long Beach Island real estate market sales were strong during the second quarter and have continued to perpetuate the overall improvement of home prices and market activity throughout 2016. Speaking specifically to Beach Haven Park real estate sales, it is interesting to note that both transactions were located on the Bayside, which goes against the general trends we see elsewhere in the LBI real estate market. In most cases, Oceanside sales will outpace Bayside sales. However, the opposite is true for Beach Haven Park real estate 2016 second quarter sales on Long Beach Island.
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Beach Haven Park Real Estate 2016 Second Quarter Sales
Sales of single-family homes in Beach Haven Park real estate market on Long Beach Island are as follows:
- There were two closed single-family homes.
- The average price of a single-family home was $813,750.
- On average, homes sold for $417.82 per square foot.
- Homes sold for 92.47% of their listing price and spent an average of 170 days on the market.
The less expensive home to sell was 11 W. Alabama which was a four bedroom 2 1/2 bathroom home built as part of the Sound’s Edge Development. This home sold for $747,500 after spending 76 days on the market. This represents a price per square foot of $453.03, and sales price to list price ratio of 95.96%. The more expensive home to sell was also located in Sound’s Edge at 3 W. Alabama on Long Beach Blvd and offers five bedrooms and four bathrooms. This home sold for $880,000 after spending 264 days on the market. This represents a sales price to list price ratio of 88.98% and a price per square foot of $382.61.
Beach Haven Park and the Long Beach Island Real Estate Market
A quick comparison of the two homes to sell in Beach Haven Park speaks volumes to the greater trends we see throughout the LBI real estate market. As flood insurance continues to be a top concern for buyers on Long Beach Island, homes that are elevated above the new base flood elevation requirements will sell at a premium. 3 W. Alabama, which was the more expensive of the two sales, was not above base flood and took considerably longer to sell being on the market for 264 days. It also sold for considerably less relative to the listing price at only 88.98%. This shows how homes that are not compliant to the new codes must keep this in mind when pricing, and buyers must pay particular attention to their investment in the LBI real estate market. For more information about Beach Haven Park real estate 2016 second quarter sales on Long Beach Island or the LBI real estate market in general, please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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