Single Family Home Sales in the Brighton Beach Real Estate Market on Long Beach Island
The real estate market in Brighton Beach on Long Beach Island showed significant activity during the first quarter of 2016. In fact, it shows one of the strongest quarters in recent history. This help to offset some of the weaker facets of the LBI real estate market, which actually showed slower activity during the first quarter. Brighton Beach first-quarter real estate sales in 2016 , showed a mix of transactions from modest Cape Cod style homes to impressive oceanfront luxury properties.
Brighton Beach First Quarter Real Estate Sales in 2016
Sales of single-family homes in the Brighton Beach real estate market on Long Beach Island were as follows:
- Six single-family homes sold
- The average price of a single-family home was $921,970.
- The avenjrage price per square foot was $560.93.
- On average, homes spent 164 days on the market and sold for 95.1% their listing price
The least expensive home to sell was 19 E. 86th St. This was a three bedroom one bathroom Cape Cod style home located on the Oceanside. The home spent only 23 days on the market and sold for 98.35% of the listing price. The sale price of $590,000 translated to price per square foot of $638.53. The most expensive home to sell was 117 East Connecticut Ave. This was a large oceanfront home which sold for $1,530,000. This translates to price per square foot was $796.88. The home and 75 feet of ocean frontage which offered outstanding views of the beach and water.
Home sales in Brighton Beach showed significant improvement in the first quarter of 2016. In fact, there is only one closed transaction during the first quarter of 2015 so clearly has been a vast improvement from one year. This helps to offset weaker performance in some of the other real estate markets on Long Beach Island, for example, Loveladies and North Beach. These higher and market showed a stagnation of prices and volume. I do not personally believe that this is reflective of the entire LBI real estate market as home sales, actually showed improvement during the first quarter of 2016 when compared to the first quarter of 2015. Rather, I believe. There was some concern about the tumultuous financial markets we witnessed in January, which caused a pause to home buying in the higher and luxury second home market. For more information about Brighton Beach first-quarter real estate sales in 2016. For the Long Beach Island real estate market in general, contact me and I will be happy 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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