Holgate Real Estate Third Quarter Sales in 2016

Holgate real estate Third Quarter Sales in 2016

Holgate Real Estate Third Quarter Sales in 2016

Holgate real estate Third Quarter Sales in 2016
Holgate real estate Third Quarter Sales in 2016

Long Beach Island Real Estate

The real estate market in Holgate on Long Beach Island had a very strong third quarter with six closed single-family home transactions. Holgate has undergone a massive rebuilding effort since Hurricane Sandy, and the outcome of this building effort has resulted in improved prices and market activity. Holgate real estate third quarter sales in 2016 did not disappoint, and helped to add to the overall positive trends we have witnessed in the Long Beach Island New Jersey real estate market.

Holgate Real Estate Third Quarter Sales in 2016

Sales of single-family homes in the Holgate real estate market are broken down as follows:

  • There were six closed single-family home transactions.
  • The average price of a single-family home was $1,002,500.
  • The average price per square foot of a single-family home is $465.07.
  • The average sales price to list price ratio was 94.1% and homes spent an average of 114 days on the market.

The least expensive home to sell was 4306 Long Beach Blvd. was a five bedroom, 3 1/2 bathroom contemporary home with 1984 feet of living space. This home sold for $600,000 after spending 45 days on the market. This is a dramatically lower price than we would expect, but was a result of the poor overall condition and un-repaired damage from Hurricane Sandy. The most expensive home to sell is 121 W. Osborn Ave. which was a four bedroom, 3 1/2 bathroom bayfront contemporary. This home had 2569 feet of living space and sold for $1,365,000 after spending 205 days on the market. This actually represented a sales price to list price ratio of 114.23% and a price per square foot of $531.34. This home sold well above asking price!

Holgate and the LBI NJ Real Estate Market

The real estate market in Holgate certainly was active, and it is interesting to see that the style of homes sold favored the newer, contemporary properties that were elevated well about the base flood elevation. This goes to show that buyers are still very concerned about the cost of flood insurance and the potential damage from future storms. Overall, the Long Beach Island New Jersey real estate market has shown substantial improvement and Holgate’s real estate third quarter sales in 2016 was no exception. For more for information about the Holgate third quarter market or the LBI real estate market in general, please do not hesitate to contact me.

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

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