Brighton Beach Real Estate Third Quarter Sales in 2016
Brighton Beach Real Estate Third Quarter Sales in 2016
Long Beach Island Real Estate
The real estate market in Brighton Beach reported only one closed transaction during the third quarter. Overall, the Long Beach Island real estate market had impressive activity and the fact that there was only one sale certainly does not warrant concern. It is important to remember that Brighton Beach is but a small section of Long Beach Township and therefore, we see many quarters with only one closed real estate transaction. Brighton Beach real estate third quarter sales in 2016 still helped to contribute to the overall growth and improvement of the LBI real estate market.
Brighton Beach and the Long Beach Island Real Estate Market
The single home to sell was 23 E. Rhode Island Ave. This was a four bedroom two bathroom home with 1287 feet of living space. The home spent 64 days on the market and sold for 94.93% of the listing price. This represents a price per square foot of $435.12.
It is important to point out that this home had to be elevated above the new base flood elevation requirements. This home had a letter of substantial damage and therefore, a significant investment will be required on the part of the buyer. This highlights how flood insurance and the impact of Hurricane Sandy continue to influence the LBI real estate market. It is important for both buyers and sellers to understand the rules and regulations involved with flood insurance before making any investment of Long Beach Island. For more information about Brighton Beach real estate third quarter sales in 2016 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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