North Beach Real Estate 2016 Second Quarter Sales on Long Beach Island

North Beach Real Estate 2016 Second Quarter Sales on Long Beach Island

North Beach Real Estate 2016 Second Quarter Sales on Long Beach Island

North Beach Real Estate 2016 Second Quarter Sales on Long Beach Island
North Beach Real Estate 2016 Second Quarter Sales on Long Beach Island

Long Beach Island Real Estate

The real estate market in North Beach showed a dramatic improvement during the second quarter of 2016 when compared to the second quarter of 2015. There were considerably more homes sold, however, it is difficult to compare the average price of a single-family home since there were only two closed transactions in 2015. Overall, the Long Beach Island New Jersey real estate market has been witnessing impressive activity, and a general trend towards increasing prices and activity. North Beach real estate 2016 second quarter sales on Long Beach Island certainly supports this upward trend and momentum.

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North Beach Real Estate 2016 Second Quarter Sales on Long Beach Island

Sales of single-family homes in the North Beach real estate market are broken down as follows:

  • There were seven closed transactions during the second quarter.
  • The average price of a single-family home in North Beach was $1,408,086.
  • On average, homes spent 182 days on the market and sold for 94.61% their listing price.

The least expensive home to sell was 1018-A Long Beach Blvd. which was a four bedroom two bathroom raised ranch on the Bayside. This home sold for $662,000 after spending only 30 days on the market. This represents a price per square foot of $530.45 and a sales price to list price ratio of 99.55%. The most expensive home to sell was 1061 – C Long Beach Blvd. This large oceanfront home had five bedrooms with 4 1/2 bathrooms and sold for $4,400,000. This represented a sales price to list price ratio of 93.72%, and price per square foot $1100. This impressive home spent only 76 days on the market.

North Beach and the Long Beach Island New Jersey Real Estate Market

The Long Beach Island real estate market has been witnessing impressive growth throughout 2016. While the year got off to a slow start in January, mainly due to poor economic data nationwide, sales and prices have both improved dramatically. This is evidenced in impressive activity we witnessed in North Beach of not only the number of homes sold, but also a high average sales price. Overall, the Long Beach Island real estate market shows signs of stability and improvement. For more information about North Beach real estate 2016 second quarter sales on Long Beach Island or the LBI real estate market in general, 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

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