Loveladies Real Estate 2016 Second Quarter Sales on Long Beach Island
Long Beach Island Real EstateLong Beach Island Real Estate
The real estate market in Loveladies during the second quarter reflected the overall improvement in the greater Long Beach Island real estate market. The number of homes sold in the average sales price range was up significantly compared to the same time frame in 2015. A year-over-year comparison is one of the best gauges to the overall health of the Long Beach Island real estate market and the results we have seen point to positive trends continuing to develop. Loveladies real estate 2016 second quarter sales on Long Beach Island speak volumes to the confidence we see in the LBI New Jersey real estate market.
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Loveladies Real Estate 2016 Second Quarter Sales on Long Beach Island
Closed single-family home transactions in Loveladies are broken down as follows:
- There were a total of 11 closed single-family homes.
- The average price of a single-family home was $1,746,682.
- On average, homes spent 204 days on the market and sold for 96.12% their listing price.
- The average price per square foot of a single-family home in Loveladies was $512.42.
The least expensive home to sell was 56 Bayview Dr. which was a damaged home essentially being sold for land value. This home sold for full price, $600,000, after spending 11 days on the market. This translates to price per square foot of $243.51. The most expensive home to sell was a magnificent estate located on the bayfront at 43 West Holly Dr. This home sold for $5,699,000 after spending more than a year on the market. This represents a sales price of $904.60 per square foot.
Loveladies and the Long Beach Island Real Estate Market
As I mentioned above, Loveladies showed significant improvement which reflects the overall trends we have been seeing in the LBI real estate market. Compared to a year ago, there were three more single-family homes sold during the second quarter, and the average sales price was approximately $400,000 higher. While some of the average sales prices can be attributed to a very high sale at 43 W. Holly, it is not uncommon to see multiple transactions in Loveladies higher than $3 million. In fairness, it is more uncommon to see any transaction in Loveladies selling for only $600,000! Overall, the Long Beach Island real estate market and specifically Loveladies has seen great improvement during the second quarter and trends indicate this positive movement will perpetuate throughout the rest of the year. For more information about Loveladies real estate 2016 second quarter sales on Long Beach Island or the LBI New Jersey real estate market in general, contact me and I will be happy to answer any questions you have.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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