Long Beach Island Real Estate Sales and Brighton Beach Real Estate Update
Brighton Beach Real Estate Transactions in the First Quarter of 2015Long Beach Island Real Estate
The real estate market on Long Beach Island has been experiencing a period of strong growth and improvement in sales transactions. Overall, the first quarter of real estate sales in 2015 produced positive results and reflected the trends anticipated in the wake of so much new construction, renovation, and improvement to the area. Brighton Beach Real Estate Transactions in the First Quarter of 2015 contributed to this improvement by showing a relatively stable climate compared the first quarter in 2014.
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Brighton Beach Real Estate Transactions in the First Quarter of 2015
There was only one single family home sold in Brighton Beach during the first quarter. While on the surface this may seem troubling, it is important to remember that Brighton Beach is a small section of Long Beach Township comprising only a few blocks. It is not uncommon at all to see relatively few sales in such a small geographic area. In fact, the first quarter of 2014 witnessed the same number of transactions. The single home to sell was 21 W. 87th St., a three bedroom 2 1/2 bath home built in 1996. This home sold for $670,000 after spending 44 days on the market. This equates to price per square foot of $389.77.
Long Beach Island Real Estate and Brighton Beach Home Sales
It is interesting to note that the one home sold in Brighton Beach was a Bayside property elevated on pilings. Certain areas of Brighton Beach can be more prone to flooding, especially on the Bayside areas. Undoubtedly, this homes favorable elevation played a role in the buyer’s decision to purchase the property. Therefore, it is important for both buyers and sellers in the LBI real estate market to keep in mind buyer’s tendencies to purchase elevated homes above the new base flood elevation levels. While there are many homes that do not need to be raised and have very affordable flood insurance rates, so market on LBI, especially those in the Bayside areas, are highly incentivized when selling a home raised on pilings. For more information about the LBI real estate market or Brighton Beach Real Estate Transactions in the First Quarter of 2015, 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 | ncolmer@vandykgroup.com
www.BuyLBI.com
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