Peahala Park Real Estate in the Third Quarter of 2013

Peahala Park and Long Beach Island Real Estate Transactions in the Third Quarter of 2013

Peahala Park Real Estate in the Third Quarter of 2013
Peahala Park Real Estate in the Third Quarter of 2013

Long Beach Island Real Estate

The third quarter of 2013 saw an overall improvement in the LBI real estate market as buyer confidence increased. Home prices were higher and there were fewer storm damaged home for sale on Long Beach Island. New construction has been taking place all over LBI and this massive investment will certainly help home prices on LBI. Peahala Park Real Estate in the Third Quarter of 2013 reflect this improvement with higher end homes closing!

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Peahala Park Real Estate in the Third Quarter of 2013

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

  1. Two homes sold
  2. The average price of a single family home in Peahala Park was $767,500
  3. Homes spent an average of 127 days on the market

One of the homes sold was an oceanblock and the other was a bayside home. This gives us an interesting perspective on buyer activity. Both homes sold were raised on pilings above base flood elevation. The oceanblock home was a traditional Cape Cod that was raised to take advantage of the views. The bayside home was a raised ranch that offered living space high and dry from any potential damage.

Long Beach Island Real Estate and Peahala Park

Peahala Park is a nice area of LBI and is very representative  of the greater LBI real estate market. Buyer activity has increased, however many buyers are still concerned about homes below base flood elevation. While non-elevated homes do sell, buyers are very aware of prices in relation to flood insurance. For more information about Peahala Park Real Estate in the Third Quarter of 2013 or the LBI real estate market in general, feel free to 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

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