Loveladies Real Estate Third-Quarter 2016 Sales
Loveladies Real Estate Third-Quarter 2016 SalesLong Beach Island Real Estate
The Loveladies real estate market, which is generally considered to be the highest priced real estate on all of Long Beach Island, showed strong activity in third quarter. Overall, the average price was one of the highest we have seen this year which is mostly due to the size of the homes and new construction which sold this quarter. Overall, Loveladies real estate third-quarter 2016 sales help to reinforce the overall strength of the Long Beach Island real estate market.
Loveladies Real Estate Third-Quarter 2016 Sales
Sales of single-family homes in the Loveladies real estate market are broken down as follows:
- There were 14 closed transactions in the third-quarter.
- The average price of a single-family home was $1,402,071.
- The average price per square foot was $490.12.
On average, homes spent 217 days on the market and sold for 95.14% of their listing price.
The least expensive home to sell was 164–B Palm Beach Blvd. This was an older contemporary home located on the bayside, and in need of renovation. This home sold for $725,000 after spending 62 days on the market. This represents a sales price to list price ratio of 98.11% and price per square foot of $328.05. The most expensive home to sell was 13-C Long Beach Blvd. This was a six bedroom 6 1/2 bathroom house with over 6800 feet of living space. This oceanfront home, which was located on a massive lot by LBI standards, sold for $3,585,000. The home spent 178 days on the market and traded for $527.21 per square foot. This represents a sales price to list price ratio of 89.65% which is lower than we see elsewhere in the LBI real estate market.
Loveladies Real Estate and the Long Beach Island NJ Real Estate Market
Overall, during the third quarter single-family home sales in Loveladies was positive. 2016 got off to a slower start in the high-end real estate market, so it is encouraging to see this facet of the Long Beach Island real estate market picking up considerably. For more information about the Loveladies real estate third 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 | ncolmer@vandykgroup.com
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