Long Beach Island Average Sales Price Has Risen in the Oceanside Single Family Home Market
LBI Real Estate Oceanside Homes Appreciating in 2015Long Beach Island Real Estate
The real estate market on Long Beach Island has shown a steady increase in both activity and the average sales price. The improvement in the market can be attributed to several factors including a better economy, low interest rates, and a much improved and more storm ready Long Beach Island. Since Hurricane Sandy made landfall at the end of October 2012, LBI has seen an impressive improvement in area. Many homes have been either renovated or rebuilt, there are a number of proactive storm measures in place and buyer confidence has been increasing. This is evident in LBI Real Estate Oceanside Homes Appreciating in 2015 at a quick pace!
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LBI Real Estate Oceanside Homes Appreciating in 2015
A quick look at January and February sales of oceanside single family homes shows some interesting activity:
- 2014 saw 21 closed transactions with an average price of $704,083
- 2015 saw 20 closed transactions (as of 2/25/2015) with an average sales price of $780,400
A year over year comparison is one of the best gauges of the market as it takes into account seasonal trends. Clearly the LBI real estate market has improved over the past year. The average price is up over 10% and there will undoubtedly be at least one more closing before the end of the month. With roughly the same number of homes seller but at a higher price, it shows not only consistency but also improvement in the investment potential of the LBI real estate market.
LBI Real Estate Market Trends
Before investing in the LBI real estate market it is important to have a handle on the current market trends. Like any market, homes on Long Beach Island are subject to high points and low points. Being able to understand the past and current market will help a buyer to anticipate future home values and safeguard their investment. For more information about LBI Real Estate Oceanside Homes Appreciating in 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market