Long Beach Island Real Estate and North Beach Haven Real Estate Trends
North Beach Haven Real Estate Sales in the First Quarter of 2015Long Beach Island Real Estate
North Beach Haven is a small subdivision located on the borders of Beach Haven. Surprising to many, North Beach Haven is actually not a part of Beach Haven but rather a part of Long Beach Township. The area offers many advantages to residents as the area is quiet but in close proximity to the amusements of Beach Haven. For this reason, North Beach Haven is a popular destination which is reflected in North Beach Haven Real Estate Sales in the First Quarter of 2015.
Click here to search all homes for sale in the Long Beach Island NJ real estate market
North Beach Haven Real Estate Sales in the First Quarter of 2015
Sales of single-family homes in North Beach Haven during the first quarter were as follows:
- There were three close transactions during the first quarter
- The average sales price of a single-family home was $674,667 with a median sales price of $749,000
- On average, homes sold for 96.8% of their listing price and spent 164 days on the market
The least expensive home to sell was 4 E. 18th St. which was a three bedroom one bathroom storm damaged home selling for $400,000. The most expensive home to sell was 1903 Bay Ter. which was a four bedroom 3 1/2 bathroom home selling for $875,000. It is important to remember that 4 E. 18th St. was technically sold as a building lot with no value given to the existing structure. A new home will most likely be built on this location increasing the total investment by several hundred thousand dollars.
Long Beach Island Real Estate Market Trends
While most of the storm damaged home inventory has cleared the LBI real estate market, there are still opportunities to make this smart investment. 4 E. 18th St. aptly demonstrates the potential value of a new home in a storm damaged location. During the first quarter, there was a new construction sale on 21st St. in Spray Beach which sold for $935,000. A similar home could be built along the same parameters with a total investment substantially less than $935,000 at 4 E 18th Street. Building a new home in the LBI real estate market is typically your best investment and best use of your money! For more information about the LBI real estate market or North Beach Haven Real Estate Sales in the First Quarter of 2015, 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market