Ship Bottom Real Estate Sales in the First Quarter of 2013

Long Beach Island Real Estate and Ship Bottom Real Estate Market Update

Long Beach Island Real Estate and Ship Bottom Real Estate Market Update
Long Beach Island Real Estate and Ship Bottom Real Estate Market Update

Ship Bottom NJ Real Estate

Ship Bottom, like the rest of Long Beach Island, was heavily impacted by Hurricane Sandy. Ship Bottom suffered extensive flooding on the bayside and in low areas. This plays into the Ship Bottom real estate market and has created an environment where storm damaged homes will be bought to redeveloped into new homes. While in the long term, this will be a positive for Long Beach Island, in the short term the average price of a single family home will be lower. Ship Bottom Real Estate Sales in the First Quarter of 2013 demonstrate this trend very well.
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Ship Bottom Real Estate Sales in the First Quarter of 2013

  • Six single family homes sold in Ship Bottom
  • The average price of a home was $555,667
  • Home spent an average of 66 days for sale in the Ship Bottom real estate market
All totaled, over $3,300,000 worth of homes sold in the Ship Bottom real estate market. The least expensive home to sell was 223 W 18th Street, a two bedroom, one bathroom storm damaged home on an under sized lot. This home sold for $270,000. The most expensive home to sell in the Ship Bottom real estate market was 120 E 18th Street. This contemporary home offered four bedrooms with two and a half bathrooms in a nice ocean block location.

Ship Bottom and the Long Beach Island Real Estate Market

The LBI real estate market as a while suffered greatly from Hurricane Sandy but has made a remarkable comeback. Home prices have remained steady and in many cases, risen after the storm. While the overall average price seems lower, this is due to storm damaged homes being sold at land value. As time goes on, the reinvestment in the LBI area will greatly improve the market. For more information about Ship Bottom Real Estate Sales in the First Quarter of 2013 or the LBI real estate market in general, send me your questions 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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