Long Beach Island Real Estate Sales and Peahala Park Real Estate Updates
Peahala Park Real Estate Transactions in the First Quarter of 2015Long Beach Island Real Estate
The LBI real estate market had a very strong first quarter. Overall, the number of homes sold in the average sales price increased as both investors and end user buyers purchase homes on Long Beach Island. A better understanding of flood insurance and the visible improvement to the Long Beach Island area helped to contribute to the growth of the LBI real estate market. Peahala Park Real Estate Transactions in the First Quarter of 2015 were no exception and in fact had a very strong quarter compared to one year ago.
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Peahala Park Real Estate Transactions in the First Quarter of 2015
Sales of single-family homes in the Peahala Park real estate market were as follows:
- Three homes sold in Peahala Park
- The average sales price of a single-family home was $895,000 with a median sales price of $790,000
- The average price per square foot of a single-family home was $422.94
- On average, homes sold for 97.45% of their listing price and remain on the market approximately 154 days
The least expensive home to sell was 9309 North Susan Ln. which was a four bedroom 2 1/2 bath home built in 2001. This home sold for $785,000 after spending 93 days on the market. It is interesting to point out that this home sold in excess of its listing price by $5,000. The most expensive home to sell was 20 East Sailboat Ln. which was a for bedroom 3 1/2 bathroom new construction on the Oceanside. This home sold for $1,110,000 after spending 219 days on the market. This property sold for 96.52% listing price and traded for $518.69 a square foot.
Long Beach Island Real Estate and Peahala Park Home Sales
Overall, the Long Beach Island real estate market had a very positive first quarter and Peahala Park was no exception. Looking back to the first quarter of 2014, we saw the same number of homes sell during this time period but a much lower price point. While in fairness, it is difficult to use only three sales as an accurate measure, the fact that buyer activity has remained stable in the average sales price is higher is certainly a positive indication. For more information about the Long Beach Island New Jersey real estate market or Peahala Park Real Estate Transactions in the First Quarter of 2015, feel free to 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 | ncolmer@vandykgroup.com
www.BuyLBI.com
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