LBI NJ Real Estate Fourth Quarter Sales in 2016
Overall, the Long Beach Island real estate market had a strong fourth-quarter in 2016. Sales for single-family homes were strong, and certainly on par with the fourth quarter of 2015. The LBI real estate market has shown a healthy mix of new construction end-user homes as well as the traditional Cape Cod style homes. Overall, Long Beach Island real estate fourth-quarter 2016 sales had a positive real estate trend for ending the year. Sales of single-family homes in the LBI real estate market are broken down as follows:
- There were 127 sold single-family homes during the fourth quarter.
- The average price of a single-family home was $1,032,683.
- On average, homes sold for 94.5% of their listing price and spent 162 days on the market.
Long Beach Island Real Estate Fourth Quarter 2016 Sales
Looking back to the fourth quarter of 2015, it shows stable market activity and a slightly higher sales price. In 2015 during the fourth quarter, there were 129 sold single-family homes with an average price of $975,068. In comparing the two years, we see two more homes sold last year, however, at a much lower price. A look at the median sales prices during the same timeframe shows a similar statistic with 2016 having a medium sale price of $858,000 and 2015 sales price of $825,000. The statistics show great strength and growth in the Long Beach Island real estate market.
If you are considering buying or selling in the near future, tracking quarterly sales throughout the LBI real estate market is an excellent way to stay on top of current market trends. Overall, Long Beach Island real estate sales have been strong, and all indications point to this trend continuing. If you have any questions about Long Beach Island real estate fourth-quarter 2016 sales, 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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