Peahala Park and LBI NJ Real Estate Transactions in the Fourth Quarter of 2013
Peahala Park Real Estate Sales in the Fourth Quarter of 2013Long Beach Island Real Estate
As 2013 came to an end, it goes without saying that the LBI real estate market and the entire Long Beach Island area faced some unique and unprecedented challenges. Never before had such damage occurred on LBI, however it is very encouraging to see just how quickly the entire Long Beach Island was repaired. While there is still work to be done, the vast majority of homes have been restored and LBI is back to normal. This has helped to strengthen the LBI Real estate market as buyer confidence has increased and home prices have improved Island-wide. Peahala Park Real Estate Sales in the Fourth Quarter of 2013 reflect the steady improvement of the LBI area.
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Peahala Park Real Estate Sales in the Fourth Quarter of 2013
Sales of single family homes were as follows during the Fourth Quarter of 2013:
- Two homes sold
- The average price of a single family home was $601,250
- On average, homes spent 192 days on the market in Peahala Park
Interestingly, both homes that sold in Peahala Park were non-elevated homes! This is the complete opposite of the preceding quarter in which both homes sold were elevated on pilings! The average price was lower than the average price for Long Beach Island however this is to be expected when no “higher end” homes sold. What is both interesting and encouraging is to see how buyers are still willing to purchase homes that are not elevated, especially oceanside homes that are typically at a lower risk of flooding.
LBI Real Estate and Peahala Park Sales
Overall, the LBI real estate market has come a long way since Hurricane Sandy made landfall. Storm damaged homes are still for sale on LBI however the majority of these homes have cleared the market., Those that remain have increased in value since the overall valuation of homes on LBI has increased! For more information about Peahala Park Real Estate Sales in the Fourth Quarter of 2013 or the LBI real estate market in general, send me a message 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market
More About The LBI Real Estate Market:
- PEAHALA PARK REAL ESTATE SALES IN THE SECOND QUARTER OF 2013
- PEAHALA PARK REAL ESTATE SALES IN THE FIRST QUARTER OF 2013
- BRIGHTON BEACH REAL ESTATE SALES IN THE THIRD QUARTER OF 2014