Oceanblock Homes in the LBI NJ Real Estate Market on Long Beach Island
Oceanblock Homes on Long Beach Island NJ
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Oceanblock Homes and the LBI Real Estate Market
The real estate market on Long Beach Island New Jersey has been very active. 2013 started off slowly thanks in great part to Hurricane Sandy however as the repairs of LBI made progress, so too did the LBI real estate market. Oceanblock homes are one of the most highly sought after areas of the real estate market on Long Beach Island and they have been in even higher demand recently due to a lack of inventory.
Oceanblock Homes on Long Beach Island NJ
Oceanblock home sale transactions between June 1st and December 1st 2013 are broken down as follows:
- 31 single family homes sold on the oceanblock in the LBI real estate market
- The average sales price of a single family home on the oceanblock was $877,500
- On average, homes sold for about $492/ sq. foot
The oceanblock real estate market on Long Beach Island offers three different types of properties. First are new or near new construction that are move in ready and will sell for top dollar. These homes can range in price from around $1,000,000 to over $2,000,000 depending on the size, finishes and location. Next are older homes that may need some updates but can be used for many years to come. These can include older contemporary homes built in the 1970’s or 1980’s or renovated Cape Cod style homes. Lastly are tear down homes that are being sold for land value. While the initial purchase price will be far less expensive for these tear down properties, buyers must anticipate the cost of construction into the equation (usually around $160-$165/ sq. foot). There is great value in these tear down properties and they can often show positive equity once the project is completed. Oceanblock Homes on Long Beach Island NJ can be an excellent opportunity for investment and for personal enjoyment but like all investment in real estate, it is important not to overpay for the property.
Buying Oceanblock Homes on Long Beach Island NJ
Currently there are about 60 oceanblock homes for sale in the LBI real estate market on Long Beach Island. These homes range in price from about $400,000 to $2,400,000! Lot size and location are the two driving factors in determining the price of Oceanblock Homes on Long Beach Island NJ as they cannot be changed! For more information about buying oceanblock homes in the LBI real estate market on Long Beach Island please contact me, Nathan Colmer, and I will be happy to answer any questions you have!
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Related LBI Real Estate Articles
- Affordable Single Family Homes in the LBI NJ Real Estate Market
- New Construction and the Real Estate Market on Long Beach Island NJ
- Home Pricing in the LBI NJ Real Estate Market