Peahala Park Real Estate Fourth Quarter Sales in 2015
The real estate market in Peahala Park on Long Beach Island reported only one closed transaction during the fourth quarter of 2015. The single home to sell was 23 W. Sailboat Lane which was a 5 bedroom home with 1 ½ baths. This home offers an interesting case study in the LBI real estate market. It was a Bayside Cape Cod which was flooded during Hurricane Sandy, then renovated and raised above the new base flood elevations. This style of home is highly appealing to buyers in the LBI real estate market, as the concerns about flood damage and increasing cost of flood insurance are both minimized in this scenario. 23 W Sailboat Lane sold for $670,000 after spending only 21 days on the market.
Peahala Park real estate fourth quarter sales in 2015 certainly reflect the trends we see elsewhere in the LBI real estate market. While there is interest in homes that are not elevated above base flood elevation, it is in question the level of interest buyers have in these homes. Many buyers feel more comfortable purchasing a home which meets or exceeds the new flood requirements. Elsewhere in the LBI real estate market, we do continue to see a mix of homes selling. They range from condominiums to non-elevated Cape Cod style homes to impressive new construction with modern amenities. The LBI real estate market truly has many options for buyers, which helps to explain the significant increase in buyer activity throughout 2015. For more information about Peahala Park real estate fourth quarter sales in 2015 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 | firstname.lastname@example.org
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