Single Family Home Sale Transactions in the Holgate Real Estate Market on Long Beach Island New Jersey
Holgate First Quarter Real Estate Sales in 2016Long Beach Island NJ Real Estate
The real estate market in Holgate on Long Beach Island, showed a total of two home sales during the first quarter of 2016. This represents a decline in activity from 2015 when there were a total of four transactions during the same time. That said, the average price of a single-family home was nearly double 2015 and the style of homes sold was drastically different. In fact, the most expensive home to sell in Holgate in 2015 was only $100,000 higher than the least expensive sale in 2016!
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Holgate First Quarter Real Estate Sales in 2016
The two home sales in Holgate during the first quarter were located at 4 West Jeffrey Ave. and 4405 S. Long Beach Blvd. The 4 West Jeffrey Ave. property is particularly interesting because it was a bank involvement sale. In this case, the homeowner ran into financial difficulty and had to call the bank, which is extremely uncommon on Long Beach Island. This home was four bedrooms with 3 1/2 bathrooms and sold over full price. The house was originally listed for $750,000 but ultimately sold for $787,500 which represents a sales price to list price ratio of 105%. This home sold after spending 111 days on the market and traded for $272.87 per square foot. The other home to sell was 4405 S. Long Beach Blvd. which was an oceanfront ultimately closing for $1,400,000. This represents a sales price list price ratio of 93.4% and a price per square foot of $466.67. This home spent 28 days on the market.
Long Beach Island Real Estate and Holgate Single Family Home Sales
The real estate market in Holgate, showed interesting activity which correlates with the greater Long Beach Island real estate market. Certain areas of the LBI real estate market have witnessed weaker quarters in 2016 when compared to 2015 however most of this I attributed to a dismal start to the stock market in January 2016. In the economy has recovered, so too home sales have improved. Overall, the first quarter of 2016 stacked up well to the first quarter of 2015 and I believe the year will be positive! For more information about Holgate first-quarter real estate sales in 2016, or any questions about the real estate market on Long Beach Island, 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
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