Oceanblock New Construction Sales Update LBI Real Estate

Oceanblock New Construction Sales Update LBI Real Estate

Long Beach Island NJ Real Estate Oceanblock New Home Sales

Long Beach Island

New construction sales are a helpful way to measure the overall LBI real estate market. Today we will look specifically at Oceanblock New Construction Sales Update LBI Real Estate in Long Beach Township. Specifically we are looking at the following:

  • New homes on the south end of Long Beach Island
  • True oceanblock homes with no streets to cross
  • Homes that meet the generally expected set of criteria such as 3,000+ sq feet of living space, a pool or room for a pool and ocean views

By : 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 New Construction Sales Update LBI Real Estate

There have been four recent sales (last 6 months from the time of writing this article) and the show a lot of similarity:

AddressCityCurrent PriceSq FootagePPSFPool
105 E Florida AveBeach Haven Park$2,087,500 3265639.36N
101 E South Carolina AveHaven Beach$2,250,000 4100548.78Y
7409 Ocean BlvdBeach Haven Crest$2,550,000 4000637.5N
112 E Texas AveBeach Haven Park$2,600,000 3319783.37Y

There are a few things we can draw from this data. The average price of a new home under these criteria was $2,371,875. The average price per sq. foot was $652.25. There was a clear low point sale in 101 E South Carolina. This home showed the lowest price per sq foot but also was the largest home (which usually does produce a lower price per sq. foot). Likewise the highest sale, 112 E Texas, was the smallest house but had a large and impressive landscape package. The price per sq. foot is higher thanks to this and the smaller home. The remaining two homes, 105 E Florida and 7409 Ocean Blvd, both traded for an almost identical price per sq. foot, just under $640, which would appear to be the correct price per sq. foot for a new home on the oceanblock.

Long Beach Island New Jersey (LBI NJ)

When looking to buy, sell or invest in the LBI real estate market you have to understand where we are in the market cycle. Right now, oceanblock sales are one of the most highly sought after segments of the market. Transactions are rather hard to come by for the simple fact that not many of them come on the market in the first place! That said, when an opportunity does present itself having the the right information and knowing what drives value can help to make a successful transaction. If you have any questions about buyingselling, or investing in the LBI real estate market, please do not hesitate to contact me.

By : Nathan Colmer |LBI Real Estate Agent | 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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Long Beach Island Real Estate Since 2000