Long Beach Island New Jersey Real Estate Market Sales Update
The Long Beach Island real estate market had a very strong 2016. In total, the average sales price was lower than that of 2015 but there were substantially more sales. It is not surprising to see a slightly lower sales price as 2016 got off to a slower start in the high-end market thanks to turmoil in the financial markets. However, as the year came to a close, sales and prices quickly escalated. When counting single-family homes, condominiums, duplexes, vacant land, commercial listings, and other property styles, there were a grand total of 539 closed transactions in 2016. In summation, 2016 will go down as one of the stronger years in the LBI real estate market.
Long Beach Island Real Estate 2016 Sales
Sales of single-family homes in the Long Beach Island real estate market are broken down as follows:
- The average price of a single family home was $990,155.
- There were a total of 475 closed single-family homes.
- By comparison, 2015 showed the following statistics:
- The average price of a single-family home was $1,026,605.
- There were a total of 429 closed transactions.
As we can see from the data, the average sales price was slightly lower in 2016, however, there were substantially more homes sold. This is an excellent indicator that the LBI real estate market is improving, and the outlook for 2017 is positive. For more information about Long Beach Island real estate 2016 sales or the LBI real estate market in general, please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
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