Higher Land Values in the LBI NJ Real Estate Market
Increasing Land Values in Long Beach Island New Jersey Real Estate Market
LBI NJ Real Estate
The Long Beach Island real estate market is, like any real estate market, susceptible to high points and low points. When home prices rose in the late 1990’s and early 2000’s, the real estate market witnessed an explosion of development and growth similar to that which we saw throughout the entire nation. Since Hurricane Sandy, we have seen a similar appreciation in real estate pricing. However, this market dynamic has to do with redevelopment rather than outward financial trends. Increasing land values in the Long Beach Island real estate market can be attributed to new construction and overall market demand.
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Increasing Land Values in Long Beach Island New Jersey Real Estate Market
As I mentioned above, there are two primary reasons we are seeing land values increase in the real estate market. They are:
- New construction throughout the LBI real estate market
- Overall increase in demand in the number of homes being sold
New construction is usually a very strong catalyst for change. As more and more new homes are built throughout the real estate market, the older obsolete homes find themselves as excellent candidates for teardown. This real estate market dynamic is showing strong, especially in the higher demand areas such as the ocean side, ocean block, and oceanfront markets. In addition, we are seeing an increase in the overall number of homes being sold which supports the higher interest we have seen throughout the LBI real estate market. Much of this has to do with the strengthening economy coupled with the outstanding investment opportunities in either a speculative real estate purchase or the purchase of a home as a rental property.
Buying Vacant Land and Tear Downs in the Long Beach Island Real Estate Market
Overall, Long Beach Island real estate land values are increasing, thanks to a stronger market, as well as unique investment opportunities. Taken as a whole, the LBI real estate market is strong and indications are that strength will continue for the perceivable future. For more information about the LBI real estate market 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market
You May Also Like:
- Building A Spec House in the LBI NJ Real Estate Market
- Building A New Home on Long Beach Island
- Renovate, Rebuild or Sell on Long Beach Island?