North Beach Haven Real Estate Third Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The North Beach Haven real estate market showed a slight slowdown in the number of homes sold during the third quarter. However, the average price was significantly higher. Part of the reason for the higher average sales price had to do with the nature of homes sold. Two of the homes were newer construction, and one was a brand-new speculative home sold as an investment. These investments can be highly lucrative in the LBI real estate market. The North Beach Haven real estate third quarter sales in 2015 clearly supported the trend.

North Beach Haven Real Estate Third Quarter sales in 2015

Sales of single-family homes in the North Beach Haven real estate market on Long Beach Island were as follows:

Four single-family homes sold during this time period
The average sale price of a single-family home was $884,125
The average price per square foot was $461.87
On average, homes spent 146 days on the market
The homes sold for 96.36% of their listing price

The least expensive home to sell was 6 E. 17th Street. This was an older home on a large lot in need of significant renovation. This home sold for $500,000 after spending 416 days on the market. The most expensive home to sell was 119 E. 17th Street. This was a speculative real estate investment, selling for $1,440,000. While the MLS reports this home spent only five days on the market, this is in fact not true, as the home was previously listed. A more accurate representation of total days on the market is around one year.

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North Beach Haven and the LBI New Jersey Real Estate Market

Overall, the LBI New Jersey real estate market has shown significant improvement in 2015. This is certainly evident in the North Beach Haven market. There were fewer sales in 2015, (4 in 2015 compared to 5 in 2014), and the average price was approximately $250,000 higher. While this does have something to do with the style and nature of homes sold, it is encouraging to see an increase in the value of home prices in the LBI real estate market. This points to a continued improvement in activity and sales volume, which we should expect to see continue through 2015 and 2016. For more information about North Beach Haven real estate third quarter sales in 2015 or the LBI New Jersey real estate market general, contact me and I will answer any questions you right away.

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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