LBI Real Estate and Loveladies Real Estate Sales Update
Loveladies Real Estate Market Sales in the Fourth Quarter of 2013
Loveladies New Jersey Real Estate
As 2013 closed, it goes without saying that it was a challenging year for the Long Beach Island real estate market. Both buyers and sellers had to contend with the challenges presented by Superstorm Sandy. Issues such as the cost of flood insurance and raising a home were brought to the forefront of consumer’s minds. The amount of mis-information certainly didn’t help matters (there were rumors that the bridge washed away and every home on LBI would see insurance rates of $20,000 or more…neither of which was accurate). Even with these challenges, the Long Beach Island real estate market and Loveladies market sales were very strong and buyer confidence was quick to return to LBI. Loveladies Real Estate Market Sales in the Fourth Quarter of 2013 ended up being the best of the entire year!
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Loveladies Real Estate Market Sales in the Fourth Quarter of 2013
Single family home sales in Loveladies were as follows:
- Eleven single family homes sold
- The average sales price of a Loveladies home was $2,465,545
- Homes spent, on average, 160 days on the market
Closed transactions ranged in price from a low of $790,000 to $6,050,000. The lease expensive sale was 83-A Long Beach Blvd, a 3 bedroom/2 bathroom home and the most expensive was 13-E Long Beach Blvd, an impressive 8 bedroom/8.5 bathroom home. It is very telling that seven of the eleven sales were over $1,000,000 and four were over $3,000,000! The willingness of buyers to spend such large sums of money, and the impressive growth in the average sales price, is a good indication of buyer confidence returning the the LBI real estate market.
Long Beach Island as a whole showed a strong fourth quarter. There were over 120 closed transactions on Long Beach Island with an average price of a little under $1,000,000. Single family homes represented the largest percentage of sales followed by condos and then multi-family homes. For more information about Loveladies Real Estate Market Sales in the Fourth Quarter of 2013 or the LBI real estate market in general, feel free to contact me and I will respond immediately.
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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More About The LBI Real Estate Market:
- LOVELADIES REAL ESTATE MARKET SALES IN THE THIRD QUARTER OF 2013
- LOVELADIES REAL ESTATE MARKET SALES IN THE SECOND QUARTER OF 2013
- LOVELADIES REAL ESTATE MARKET SALES IN THE FIRST QUARTER OF 2013