Loveladies Real Estate Fourth Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The real estate market in Loveladies New Jersey on Long Beach Island showed interesting activity during the fourth quarter of 2015. It would appear that the real estate market in Loveladies has shown improvement since the sales doubled during the fourth quarter when compared to the third quarter. However, the average price was lower. Part of this average price being lower can be explained by the least expensive sale in Loveladies, which was located 174 Long Beach Boulevard. This home was sold as a tear down, so there will be an additional investment associated with the property during the course of new construction. This will represent a higher overall investment, and add a great deal of equity to the Loveladies market. Loveladies real estate fourth quarter sales in 2015 represent trends we see elsewhere on Long Beach Island as market activity increases and buyers take advantage of the investment opportunities.

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Loveladies Real Estate Fourth Quarter Sales in 2015

Sales of single-family homes in the Loveladies real estate market on LBI are as follows:

There were six single-family homes sold during the fourth quarter.
The average price of a single-family home was $1,530,067.
The average price per square foot was $576.54.
On average, homes spent 233 days on the market and sold for 93.07% of their listing price.

As I mentioned above, the least expensive home to sell was 174 Long Beach Blvd. which was primarily marketed and sold as a teardown. This home sold for $685,000 after spending 312 days on the market. While the home itself sold for $780.18 per square foot, it is somewhat illusionary as it was primarily a land based sale. By contrast, the most expensive home to sell was 170 –E. Sea Pine Drive. This was a 5 bedroom, 5 ½ bath bayfront home which was renovated in approximately 2011. This home has a total of 3605 sq. feet, and sold for $2,750,000 after spending 56 days on the market. This home sold for $762.83 per square foot.

Loveladies New Jersey and the LBI Real Estate Market

Loveladies retains its title as one of the most expensive real estate markets on Long Beach Island. The style of homes that sold reflects this high end trend. During the fourth quarter, four of the six properties that traded were located on the water. The average price of a single-family home in Loveladies is significantly higher than the average we see on Long Beach Island. This trend shows no sign of slowing down! Overall, the real estate market on Long Beach Island, and certainly in Loveladies, showed improvement over the past several quarters. For more information about Loveladies real estate fourth quarter sales in 2015 or the Long Beach Island 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

www.BuyLBI.com

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