Peahala Park Real Estate Second Quarter Sales in 2015
The Peahala Park real estate market showed a marked slowdown in activity compared to the second quarter of 2014. Overall, home sales on Long Beach Island have been improving and higher price points are seeing a lot of activity. Although there was a slowdown in activity in the second quarter of 2015, Peahala Park had two sales, both oceanblock homes, trading at very high numbers. Peahala Park’s market activity was as follows:
- 116 E. Cape Cod Lane was a 5 bedroom, 2 ½ bath single family home selling for $997,500
- 108 E. Herbert was a 5 bedroom 4 ½ bath new construction selling for $1,607,500
Both were located on the oceanblock, in other words, there were no streets to cross between the house and a beach access. Both homes had views of the water and were the newer more contemporary style. The current trends in the LBI real estate market are heavily favoring these newer constructions, even if they are trading at substantially higher price points.
Peahala Park and the LBI NJ Real Estate Market
There are a variety of homes for sale on Long Beach Island ranging from small beach bungalows to impressive new constructions. There is certainly a market of buyers for all of these homes. While the current trends favor new construction, there is an added value to the smaller traditional beach homes, as their land will still constitute a tremendous amount of value, while offering a functional beach getaway. The LBI real estate market has been showing strong signs of improvement, especially since Hurricane Sandy, and prospects are good for a continued rise in valuations for the area. For more information about Peahala Park real estate second 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