North Beach Real Estate Fourth Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The real estate market in North Beach showed a significant slowdown compared to the third quarter of 2015 and the fourth quarter of 2014. In both comparisons, the North Beach real estate market on Long Beach Island showed fewer homes sold at a lower average and median sale price. While this does go against the general trends we see in the LBI real estate market, it can partially be explained by the nature of homes sold in North Beach during the fourth quarter.

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North Beach Real Estate Fourth Quarter Sales in 2015

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

There were four single-family homes sold.
The average price of a single-family home was $1,335,000.
The average price per square foot was $496.40.
On average, homes spent 101 days on the market and sold for 94.6% of their listing price.

The least expensive home to sell was 1012 Long Beach Boulevard. This was a 4 bedroom, 3 bath home with just over 2,000 sq. feet. The home was an older contemporary located on the bayside, and sold for $870,000 after spending 137 days on the market. The most expensive home to sell was 1019 – C Long Beach Boulevard. This was an older oceanfront reverse living home on a private lane. The home was renovated in 1996 and featured 5 bedrooms with 3 ½ baths and almost 2,700 sq. feet of living space. There is a good chance this home was purchased with the intention of tearing it down to make way for new construction, which does increase the overall investment in the North Beach real estate market. This home sold for its full price of $2,500,000, after spending only eight days on the market.

North Beach and the Long Beach Island Real Estate Market

The trends we witnessed in the North Beach real estate market go against the general trends we have seen elsewhere on Long Beach Island. Overall, the LBI real estate market has been showing strong improvement and steady growth, both in the average price of a single-family home and the number of homes sold. It will be interesting to see if the trends we witnessed during the fourth quarter continue throughout 2016. For more information about North Beach real estate fourth quarter sales in 2015 or the LBI New Jersey 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

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