Long Beach Island Real Estate and The Dunes Sales Transactions
The Dunes Real Estate Update in the Second Quarter of 2013
The LBI NJ Real Estate Market
The second quarter of home sales on Long Beach Island showed a developing trend in home sales. Storm damaged homes, in other words homes that were flooded and not repaired, have become a very common sale to make way for new construction. This will, in time, increase property values as new homes replace older, less valuable homes. The Dunes Real Estate Update in the Second Quarter of 2013 reflects this trend with the majority of sales being storm damaged homes.
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The Dunes Real Estate Update in the Second Quarter of 2013
Single family home sales were as follows:
- Three single family homes sold
- The average price was $642,583
- On average, homes spent 76 days on the market
All three homes sold were Oceanside properties and two of the three homes were storm damaged. These damaged homes were sold primarily for land value, and will be knocked down to make way for new homes.
Long Beach Island Real Estate and The Dunes Sale Market
The Dunes is a high value area of Long Beach Island. With a wider than average lot size and a naturally low inventory, demand is very high in this market. The Oceanside areas of the dunes feature mostly Cape Cod style homes and new constructions on wide lots whereas the bayside For more information about the LBI real estate market or The Dunes Real Estate Update in the Second Quarter of 2013, please text, call or email me anytime 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