Beach Haven Park Real Estate Second Quarter Sales in 2015

Long Beach Island Real Estate

The LBI real estate market had a very strong second quarter. With interest rates still being low and the summer season looking to be strong, buyers were very aggressive closing a transaction. The Beach Haven Park real estate market was no exception. It showed some very interesting trends, which we saw not only in Beach Haven Park, but elsewhere in the LBI real estate market. Beach Haven Park real estate second quarter sales in 2015 were as follows:

Five single family homes sold during the second quarter
The average price of a single family home was $1,584,000
On average, single family homes spent 120 days on the market and sold for 96.2% of their listing price

The least expensive home to sell was 7 W. Alabama, which was a 4 bedroom, 2 ½ bath home. This property traded for $750,000 after spending 27 days on the market, and sold for full list price. The most expensive sale was 28 Hideaway Dr. which was a 5 bedroom, 3 ½ bath home selling for $2,070,000. This property spent 332 days on the market, and sold for 90.2% of the listing price. Median sales price in Beach Haven Park was $1,575,000, and the average price per square foot of a single family home was $544.81.

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Beach Haven Park and the LBI real estate market

When comparing second quarter sales of 2015 and 2014 in Beach Haven Park, we see fewer sold in 2015. However, the homes sold for a substantially higher price. In 2014, the average sales price for a home was just under $600,000. In 2015, we see a number almost triple that. While this price increase certainly does not mean values in the LBI real estate market have tripled, what this tells us is that newer constructions, especially those on the oceanside and oceanblock are in very high demand, and buyers are willing to pay premium to purchase these homes. For more information about Beach Haven Park real estate second quarter sales in 2015 or the Long Beach Island real estate market in general, contact me and I will respond right away.

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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