Haven Beach Real Estate Fourth Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The real estate market in Haven Beach on Long Beach Island showed very interesting trends which are somewhat harder to understand at first glance. While there were fewer homes sold in Haven Beach during the fourth quarter of 2015 when compared to the fourth quarter of 2014, the average price of a single-family home was significantly higher. This was due to a very expensive oceanfront home selling during this quarter. Also during this quarter, the other two homes that sold were teardowns. Haven Beach real estate fourth quarter sales in 2015 reflect the trends we see elsewhere in the LBI real estate market.

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Haven Beach Real Estate Fourth Quarter Sales in 2015

Sales of single-family homes in the Haven Beach real estate market on Long Beach Island were broken down as follows:

There were three single-family homes sold.
The average price of a single-family home was $2,125,713.
On average, homes spent 111 days on the market.
The average price per square foot of a single-family home was $671.48.

The most expensive home to sell was 112 Weldon Place. This was an outstanding oceanfront new construction with 5 bedroom, 5 ½ baths, with 4,500 sq. feet of living space and an in-deck oceanfront pool. This home sold for $4,550,000, before it was even listed on the market! The other two sales in Haven Beach were remarkably similar. Both ocean block properties were built during the 1950’s, and both were purchased as teardowns. Each home, one located at 12 East Wyoming Avenue and the other located at 101 East Idaho Avenue sold at a very similar price point: $889,639 and $937,500 respectively. Both of these homes will be demolished to make way for impressive new construction, adding to the overall investment in the Haven Beach real estate market.

Haven Beach and the Long Beach Island New Jersey Real Estate Market

The trends we see in Haven Beach highlight the exciting investment opportunities that exist in the LBI real estate market. Of the three homes sold, all had some level of redevelopment involved in the transaction. 112 Weldon Place was purchased as an investment. A beautiful new home was built on the lot and sold for a significant profit. The oceanblock home sales that comprise the rest of the Haven Beach transaction pool highlighted the potential that exists in the LBI real estate market. Given the sale prices of these homes, there is the potential for a new home to be built and new construction to be sold at a price point that would ensure a healthy profit. For more information about Haven Beach real estate fourth quarter sales in 2015 or the LBI New Jersey real estate market in general, 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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