Peahala Park Real Estate Third Quarter Sales in 2015

Peahala Park Real Estate Third Quarter Sales in 2015

Peahala Park Real Estate Third Quarter Sales in 2015
Peahala Park Real Estate Third Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The third quarter of 2015 for Peahala Park real estate transactions in the LBI real estate market showed strong activity. The average and median sales price for 2015 as compared to 2014 were higher. This is a trend we have seen elsewhere in the LBI real estate market, as prices and activity continued to grow. Some of this has to do with the nature of homes being sold, which now represent newer construction since  Hurricane Sandy. Overall, Peahala Park real estate third quarter sales in 2015 and the Long Beach Island real estate market have both improved.

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Peahala Park Real Estate Third Quarter Sales in 2015

Sales of single-family homes in the Peahala Park real estate market on Long Beach Island were as follows:

  • Four single-family homes sold
  • The average sales price was $721,625 with a median sales price of $706,250
  • On average, the price per square foot of a single-family home was $458.99
  • On average, homes spent 314 days on the market
  • The homes sold for 96.7% of their listing price

The least expensive home to sell in this area of the LBI real estate market was 27 E. Seabreeze Avenue. This was a five bedroom two bathroom Cape Cod style home located on the oceanside. This home sold for $675,000 after spending 354 days on the market. The most expensive home to sell was 23 East Mariners Lane. This was a four bedroom two bathroom Cape Cod home also located on the oceanside. This home sold for $799,000 after spending 250 days on the market.

Peahala Park Real Estate and the Long Beach Island New Jersey Real Estate Market

Overall, the third quarter was strong for the LBI real estate market. The trends we saw on Long Beach Island were certainly prevalent in the Peahala Park market as well. An interesting conclusion can be drawn from the least expensive and most expensive home to sell during this time. Both the least expensive and most expensive home to sell were similar in age and construction. In fact, the less expensive sale was even closer to the beach, which is normally a major determinant of value. It is interesting to point out that the smaller home, further to the beach, sold for $124,000 more. This primarily has to do with the overall condition of both properties. While both were nice, 23 E. Mariners had undergone substantial renovation. This made the listing more appealing to buyers. It sold in a short timeframe for a higher price, even with a slight disadvantage of size and location. This is a trend we see elsewhere on Long Beach Island, as buyers tend to favor new or renovated homes. For more information about Peahala Park real estate third quarter sales in 2015 or the LBI real estate market in general, contact me and I will answer any questions you have 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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