LBI Real Estate Transactions in Surf City During the Second Quarter of 2013

The second quarter of 2013 showed strong sales in the Surf City real estate market. In fact, the entire LBI real estate market improved during the second quarter as buyer confidence improved. Much of the increased sale activity can be attributed to home buyers better understanding the new rules of flood insurance. Investors have also been buying more homes on LBI to build large new construction which helps the overall real estate market on Long Beach Island. LBI Real Estate Transactions in Surf City During the Second Quarter of 2013 saw more homes sell than the preceding quarter, but a lower average sale price.

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Sales of single family homes in Surf City during the second quarter of 2013 are below:

• Nine single family homes sold
• The average sales price was $631,122
• On average, homes spent 133 days on the market

A total of just under $6,000,000 worth of homes sold during the second quarter. Several of these sales were storm damaged homes selling for land value. The least expensive home to sell was 216 N 4th Street which was a storm damage home selling for $375,000. The most expensive home to sell was 17 N 7th Street which was a five bedroom, three and a half bathroom home selling for $1,450,000. Of the nine homes to sell in the Surf City real estate market, this was the only home to sell over $1,000,000. It may appear that the Surf City and LBI real estate market is in decline with the lower sales price however this is not the case. The lower sales price is due to storm damaged home selling at land value. These homes will become large, new home that will be worth a great deal more in the LBI real estate market. For more information about LBI Real Estate Transactions in Surf City During the Second Quarter of 2013 or the LBI real estate market in general, send me a message 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

More About The LBI Real Estate Market:

• SURF CITY REAL ESTATE SALES IN THE FIRST QUARTER OF 2013
• HARVEY CEDARS REAL ESTATE TRANSACTIONS IN THE FIRST QUARTER OF 2014
• HARVEY CEDARS REAL ESTATE TRANSACTIONS IN THE THIRD QUARTER OF 2013