Ocean front Real Estate Transactions in the LBI Real Estate Market on Long Beach Island New Jersey
Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market
Long Beach Island NJ Real Estate Market
The Long Beach Island NJ real estate market has shown amazing resilience in the wake of Hurricane Sandy. Both interest and activity in the Long Beach Island real estate market has remained steady and there are, on average, between 40 and 70 homes under contract at any given time. Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market have always been one of the key components of the LBI real estate market as oceanfront homes are, in most cases, the most expensive real estate on Long Beach Island. Before buying or selling an oceanfront home in the Long Beach Island NJ real estate market, it is of the utmost importance to understand the current LBI real estate market as a whole and the current sales activity of oceanfront homes specifically.
Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market
in looking only at single family homes, for the time period of January 1st 2013 through September 1st 2013, there were a total of 10 Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market. Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market are broken down as follows:
- The least expensive sold oceanfront home traded for $$1,33,7500
- The most expensive sold oceanfront home in the LBI real estate market traded for $$7,350,000
- The average price of a single family oceanfront home in the Long Beach Island NJ real estate market was $2,733,700 during this time period
- On average oceanfront homes spent 153 days on the market and sold for 89.9% of their original listing price
When comparing Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market in 2013 to oceanfront home sales during the same time period in 2012, the statistics paint a very different picture. Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market during January 1st 2012 through September 1st 2012 are broken down as follows:
- 21 Closed oceanfront single family homes in the LBI real estate market
- The lease expensive Oceanfront Home Sale in the Long Beach Island NJ Real Estate Market was $1,025,000 and the most expensive was $$3,2500,000.
- The average price of a single family oceanfront home in the Long Beach Island NJ real estate market was $1,780,821.
- On average, homes spent 213 days on the market and sold for 89.7% of their asking price.
Comparing the data between 2013 and 2012 shows us that while there was substantially less activity, the prices were considerably higher in 2013 . Oceanfront homes also sold much more quickly in 2013 as compared to 2012 (153 days in 2013 to 213 in 2012). Regardless, if you are buying or selling an oceanfront home in the Long Beach Island NJ real estate market, it is clear that the market is competitive and the house must be priced correctly in order to attract attention. As is the case with the entire LBI real estate market, Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market are dependent on the price and the condition of the property.
Buying or Selling an Oceanfront Home in the Long Beach Island NJ Real Estate Market
If you are considering Buying or Selling an Oceanfront Home in the Long Beach Island NJ Real Estate Market, I encourage you to contact me, Nathan Colmer, with any questions. Since Hurricane Sandy, there have been major changes to not only flood zones and flood insurance, but also CAFRA building approvals and town planning. I am available 24/7 on my cell phone 609-290-4293 or you can email me anytime. You can also click here to search Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market
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
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