LBI Real Estate Fourth Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The real estate market on Long Beach Island had a very strong fourth quarter in 2015. Overall, sales were busy and buyers were active in the LBI real estate market. Interestingly, the average price was lower during the fourth quarter in 2015 when compared to 2014. However, for a single-family home in 2015, the number of homes sold was significantly higher. LBI real estate fourth quarter sales in 2015 ended the year on a positive note!

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LBI Real Estate Fourth Quarter Sales in 2015

A comparison of single-family home sales in 2015 and 2014 are broken down below:

2014

There were 107 single-family homes sold.
The average price of a single-family home was $1,075,526.

2015

There were 129 single-family homes sold.
The average price of a single-family home was $973,750.

A comparison of 2014 versus 2015 shows a slightly lower average sales price even though activity was significantly higher. Keep in mind, average sale prices can be subject to distortion based on abnormally high or abnormally low sales. However, the fact that there were 22 more homes sold in 2015 shows the market has been improving on Long Beach Island.

Long Beach Island Real Estate

The average time a home spent on the market during the fourth quarter of 2015 was 152 days, and homes sold for an average of 94.25% of their listing price. Both of these statistics were in line with what we saw in the LBI real estate market in past quarters. Overall, the LBI real estate market has proven to be a steady investment. LBI real estate fourth quarter sales in 2015 certainly support this trend. For more information about buying or selling a home 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

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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