Long Beach Island Real Estate and The Dunes Sales Update
The Dunes Real Estate Update in the 1st Quarter of 2013
The LBI Real Estate Market and Hurricane Sandy
Hurricane Sandy, which made landfall at the end of October 2012, the LBI real estate market changed a great deal. The local economy now has to deal with a new set of challenges such as storm damaged homes, flood insurance and the fear of future storms impacting the area. The good news is, there will be a major investment of capital in the Long Beach Island which will help to safeguard the area and increase property values Island wide. The Dunes Real Estate Update in the 1st Quarter of 2013 showed only one sale.
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The Dunes Real Estate Update in the 1st Quarter of 2013
The one closed transaction in The Dunes was broken down as follows:
- 118 E Hollybanks was a 4 bedroom, 2.5 bath single family home
- This home sold for $852,000 and spent 119 days on the market
It is surprising to see that the one home sold was not elevated on pilings, however the location on the Oceanside helped to insure that flood insurance rates would be affordable thanks to the nature ground elevation.
Long Beach Island Real Estate
The challenges facing the LBI real estate market are numerous, however as rebuilding continues and fears of flood insurance abate, buyer confidence will continue to increase. For more information about the LBI real estate market or The Dunes Real Estate Update in the 1st 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