Ship Bottom Real Estate Transactions and the Long Beach Island Real Estate Market
Ship Bottom Real Estate Sales in the First Quarter of 2015Long Beach Island Real Estate
The LBI real estate market has continued to improve since the impact of Hurricane Sandy. New construction has been taking place all over Long Beach Island and the improvements made to the area have helped to increase property values while at the same time making LBI a more storm ready and secure community. Ship Bottom Real Estate Sales in the First Quarter of 2015 showed impressive activity, but a lower average sales price when compared to the greater Long Beach Island real estate market.
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Ship Bottom Real Estate Sales in the First Quarter of 2015
Sales of single-family homes in the Ship Bottom real estate market were as follows:
- 14 single-family homes sold during the first quarter
- The average sales price of a single-family home in Ship Bottom was $673,671 with a median sales price of $588,500
- The average price per square foot was $385.19
- On average, homes spent 159 days on the market and sold for 97.35% of the listing price
The least expensive home to sell was 225 W. 17th St. which was a five bedroom two bathroom home selling for $439,000. This translates to price per square foot for $350.08. The most expensive home to sell was 15 Robert Dr., which was a six bedroom four a half bathroom waterfront home selling for $1,396,400. This was a very large home, at 3,686 sq. feet so the price per square foot was only $378.84.
Long Beach Island Real Estate and the Ship Bottom Real Estate Market
Ship Bottom typically see a lower than average sales price when compared to the rest of the LBI real estate market. This has to do with several factors, the most prominent of which has to do with the large Bayside areas and the shorter ocean block in Ship Bottom. Properties on the Bayside areas typically sell for a lower price when compared to their Oceanside and ocean block counterparts. Ship Bottom has between three and four blocks of Bayside homes compared to only one block of Oceanside homes. The deviation between the ocean block and Bayside properties helps to create a lower sales price. A very interesting trend we witnessed in Ship Bottom during the first quarter was a very low average negotiation between the listing price and sales price of a home. With homes selling for 97.35% on average of their listing price, it appears that buyer confidence is increasing in Ship Bottom. For more information about Long Beach Island real estate market or Ship Bottom Real Estate Sales in the First Quarter of 2015, contact me and I will be happy to answer any questions that you have.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.BuyLBI.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market