Peahala Park Real Estate in the Second Quarter of 2014

Peahala Park and Long Beach Island NJ Real Estate Transactions During the 2nd Quarter of 2014

Peahala Park Real Estate in the Second Quarter of 2014
Peahala Park Real Estate in the Second Quarter of 2014

 

Long Beach Island Real Estate

The LBI real estate market has made great strides compared to the second quarter of 2013. This is thanks to the entire Long Beach Island area having mostly recovered from the damage caused by Hurricane Sandy. With most homeowners back in their residences and a massive wave of new construction taking place on LBI, buyer confidence has increased exponentially. This has helped to raise both the number of sales and the average price of homes in the LBI real estate market. Peahala Park Real Estate in the Second Quarter of 2014 reflected this trend with increased sales!

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Peahala Park Real Estate in the Second Quarter of 2014

Sales of single family homes in Peahala Park were as follows:

  • Five homes sold
  • The average price of a single family home was $536,875
  • On average, homes spend 223 days on the market

The least expensive home to sell was 31 Ocenaview, a four bedroom, two bathroom Cape Cod on the bayside. This home sold for $490,000. The most expensive home to sell was 106 Mermaid, also a four bedroom, two bathroom Cape Cod. 106 Mermaid sold for $620,000 thanks to the location on the ocean block.

LBI Real Estate and Peahala Park

Peahala Park’s real estate trends are very revealing. All five homes that sold during the second quarter were Cape Cod style homes NOT elevated on pilings. This reflects a better understanding of flood insurance and the dispersion of the myth that homes not elevated on pilings will see unsustainable flood insurance rates. For more information about Peahala Park Real Estate in the Second Quarter of 2014 or the LBI real estate market in general, please send me a message and I will respond right away!

 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

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