Long Beach Island Real Estate and Single Family Home Sales in North Beach
The real estate market in North Beach on Long Beach Island New Jersey reported only one closed single-family home during the first quarter of 2016. The single home to sell was 1014C Long Beach Blvd. which was a four bedroom, 3 1/2 bathroom home built in 2000. The home featured 2,464 square feet of living space and a great location in the Southern section of North Beach. 1014C sold for 95.54% of the listing price after spending 169 days on the market. This represented a price per square foot of $426.14 which is in line with the averages we see elsewhere in the Long Beach Island real estate market.
When comparing the first quarter of 2016 to the first quarter of 2015 we see a significant decrease in activity. In 2015, there were four single-family homes sold with an average price of $1,110,000. It is interesting to note that the Loveladies real estate market also experienced a down quarter which goes against the trends we see elsewhere on Long Beach Island. Throughout the entirety of the LBI real estate market, there are more homes sold with a stable sales price. I believe some of the slower activity we see in the higher price market on Loveladies and North Beach has to do with the poor performance of the stock market in January 2016. The real estate market on Long Beach Island is heavily influenced by the financial markets, so it stands to reason that these higher price markets would suffer when the economy declines. As the stock market and the overall economy have improved recently, the expectation is to see more activity in the higher price ranges.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
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