Holgate Real Estate Sales in the First Quarter of 2015

Long Beach Island Real Estate Sales Update For The Holgate Real Estate Market

Holgate Real Estate Sales in the First Quarter of 2015
Holgate Real Estate Sales in the First Quarter of 2015

Long Beach Island Real Estate

Holgate, which is located at the very southern tip of Long Beach Island, is a section of Long Beach Township. The area was particularly hard-hit by Hurricane Sandy, which has unfortunately created a somewhat slower real estate market than we see elsewhere on Long Beach Island. That said, new construction and investment has been taking place all over Holgate which is helped to stabilize the average sales price and pave the way for future investment. Holgate Real Estate Sales in the First Quarter of 2015 showed a strong quarter with a dramatic increase in activity compared to 2014.

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Holgate Real Estate Sales in the First Quarter of 2015

Sales of single-family homes in the Holgate real estate market during the first quarter were as follows:

  • Four single-family homes sold in Holgate
  • The average sales price of a single-family home was $580,775 with a median sales price of $520,300.
  • The above sales figures translate to an average price per square foot of $370.
  • On average, homes spent 180 days on the market and sold for 93.2% of their listing price

The least expensive home to sell in Holgate was 21 West Pershing Ave. which was a four bedroom two bathroom home selling for $420,000. This translates to price per square foot of only $280.56. By comparison, the most expensive home to sell was 113 W. McKinley Avenue which was a four bedroom 3 1/2 bathroom home built in 2011 on the bayfront. This home sold for $862,500 or $278.23 per square foot.

Long Beach Island and Holgate Real Estate Trends

The weakness in the Holgate real estate market is visible in both the average sales price and the deviation between the listing price and sales price of a home. The average sales price of only $580,775 is substantially less than the average price we see elsewhere on Long Beach Island, typically between $800,00 and $1.1 million. Likewise, the deviation between the listing price and sales price, which on average was 93.28%, is much lower than we see in the other real estate market on Long Beach Island. While there are some definite opportunities in Holgate, it is important for both buyers and sellers to be aware of the current limitations in the area and price homes accordingly. For more information about the LBI real estate market or Holgate Real Estate Sales in the First Quarter of 2015, contact me  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

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