Beach Haven Terrace Real Estate Third Quarter Sales in 2016
Beach Haven Terrace Real Estate Third Quarter Sales in 2016
Long Beach Island Real Estate
The real estate market in Beach Haven Terrace showed interesting activity during the third quarter. Throughout the entire Long Beach Island real estate market we have seen strong activity and general improvement in price and statistics. The real estate market in Beach Haven Terrace helped to support this trend. In total, there were three closed single-family home transactions, and given that this area is such a small section of Long Beach Township, this is surprisingly high activity. Beach Haven Terrace real estate third-quarter sales in 2016 certainly did not fail to impress!
Beach Haven Terrace Real Estate Third Quarter Sales in 2016
Sales of single-family homes in the Beach Haven Terrace real estate market are broken down as follows:
- There were three closed transactions during the third quarter.
- The average price of a single-family home was $627,000.
- The average price per square foot was $486.41.
- The average sales price to list price ratio was 97.83% and homes spent an average of 136 days on the market.
The least expensive home to sell was 107 W. Indiana Ave. This was a six bedroom, two bathroom home on the bayside which sold for $500,000 after spending 126 days on the market. This represents a price per square foot of $329.38 and a sales price to list price ratio of 94.52%. It is important to point out that this home had a letter of substantial damage which requires that the house be elevated above the new base flood elevation requirements. This will add a significant amount of money to the ownership cost. The most expensive home to sell was 122 E. Pennsylvania Ave. This was an ocean block teardown which was situated on a 60′ x 100′ lot. This is an excellent investment and the builder has listed the new construction for $1,900,000. This home sold for $756,000 after spending only 12 days on the market. This represents a price per square foot of $741.18 and a sales price to list price ratio of 104.28%, as this home sold well over listing price.
Beach Haven Terrace and the Long Beach Island Real Estate Market
Beach Haven Terrace real estate third quarter sales in 2016 highlight some of the nuances we see in the Long Beach Island real estate market. As seen with the house on Indiana Avenue, flood insurance and flood elevation guidelines must be thoroughly understood by all buyers. The home on Pennsylvania Avenue aptly demonstrates the outstanding investment opportunities present in the Long Beach Island New Jersey real estate market. For more information about the Beach Haven Terrace third quarter sales or the LBI New Jersey real estate market, 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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