Tracking the Median List Price of a Single Family Home in the Long Beach Island Real Estate Market
LBI Real Estate Median List Price IncreasesLong Beach Island Real Estate
The LBI real estate market has been experiencing a period of increased activity. This increase has been seen in both the number of homes sold as well as the average sales price. The reasons for this very, but most would agree that the increase activity can be attributed to an improving economy, low interest rates, and Hurricane Sandy. While this last metric may surprise some, Hurricane Sandy has had some very positive long-term effects on the Long Beach Island real estate market. Hurricane Sandy prompted the renovation and reconstruction of the older homes on LBI. These renovated and rebuilt homes had more value in the LBI real estate market and have helped to increase both the interest and safety of Long Beach on. One very effective tool to matter confidence seen in the LBI real estate market is by tracking the median list price of a home as the LBI real estate median list price increases, this will often signal a stronger market and sell her confidence increases.
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LBI Real Estate Median List Price Increases
Tracking the median list price of a single-family home on Long Beach Island for the past 12 months tells us some very interesting information.
- Between March 2014 and February 2015 a total of 967 listings entered the LBI real estate market
- The lowest median list price during this time was $769,900
- The highest median list price was $1,150,000
The data tells us some very interesting trends developing. For the majority of the months sample, the median list price was somewhere in the mid $800,000 to high $800,000 range. January 2015 saw a sharp decline in the median list price, however this is mostly attributed to the style of homes that were coming on the market. By contrast, February 2015 saw the highest median list price over the past 12 months. Overall, seller confidence seems to be strong and is reciprocated by a buyer’s willingness to purchase a home on Long Beach Island.
Understanding LBI Real Estate Market Trends
It is important to remember that the LBI real estate market, like any market, is subject to high points and low points. Currently, the climate for investment in the real estate market on Long Beach Island is very positive. The entire Long Beach Island area has been improved and made more storm ready. Confidence has increased thanks to the many improvements made to the area and a remarkable speed with which Long Beach Island recovered after Hurricane Sandy. For more information about the LBI real estate median list price increases, or the real estate market on Long Beach Island in general, call, text or email 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market