The Dunes Real Estate Market in the Fourth Quarter of 2013

The Dunes and the LBI Real Estate Market Sales Update

The Dunes Real Estate Market in the Fourth Quarter of 2013

The LBI Real Estate Market

It goes without saying that 2013 was a challenging year for the LBI real estate market and the Jersey Shore in general. Hurricane Sandy created a wide range of challenges for the area. The good news is, the entire LBI area has made a remarkable recovery in a very short time period. This has helped to increase buyer confidence in the area. The Dunes Real Estate Market in the Fourth Quarter of 2013 helps to demonstrate this increased confidence.

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The Dunes Real Estate Market in the Fourth Quarter of 2013

Single family home sales in The Dunes were as follows:

  • Two single family homes sold
  • The average price of a single family home was $702,500
  • On average, homes spent 52 days on the market

Of the two homes sold, both were traditional Cape Cod style homes. One was a storm damaged home and the other was bought with the intent to renovate and use as a family beach house. The second sale is interesting in the fact that it was a non-elevated home, but the buyer’s understanding of flood insurance was such that they understood rates would be affordable in this location. This understanding has helped to increase buyer confidence.

The Dunes and Long Beach Island

The Dunes showed a very strong year, despite the challenges presented by Hurricane Sandy. The market showed a mix of both damaged and non-damaged homes which shows the overall stability of the local real estate market. For more information about the LBI real estate market or The Dunes Real Estate Market in the Fourth Quarter of 2013, please send me a message 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

Click here to search all homes for sale in the Long Beach Island NJ real estate market