Ship Bottom Real Estate Sales in the Second Quarter of 2014

Ship Bottom Real Estate and the LBI Real Estate Market

Ship Bottom Real Estate Sales in the Second Quarter of 2014
Ship Bottom Real Estate Sales in the Second Quarter of 2014

Ship Bottom Real Estate

Ship Bottom Real Estate Sales in the Second Quarter of 2014 showed an increase in both the number of homes sold and the average sales price of a single family home. While the average sales price was still much lower than the rest of the LBI real estate market, it was about 25% higher than in the first quarter of 2013. The average price was driven lower by the presence of storm damaged homes, however there are fewer of these properties on the market now. With completed homes now entering the market, we will continue to see the average price being higher.

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Ship Bottom Real Estate Sales in the Second Quarter of 2014

Sales of single family homes were as follows:

  • Twelve single family homes sold
  • The average price of a Ship Bottom home was $485,258
  • On average, homes spent 150 days on the market

The least expensive home to sell in Ship Bottom was 247 W 22nd Street, a storm damaged home on an undersized lot. This home (or lot) sold for$265,000. The most expensive sale was 2317 Central Ave which was sold for $810,000.  A total of just over $5,800,000 worth of homes sold in Ship Bottom. There was much less negotiation in the sales prices of homes. Two of the twelve homes to sell traded for their asking price. The rest of the homes sold between 3% and 6% of there asking prices.  Most of the homes were purchased using conventional financing and  a mortgage.

Ship Bottom and the LBI Real Estate Market

The second quarter ended up being a strong quarter for the LBI real estate market. On average, homes sold over $1,000,000 and market activity was high. With many of the questions answered regarding floor insurance, buyer confidence has been increasing. For more information about Ship Bottom Real Estate Sales in the Second Quarter of 2014 or the LBI real estate market, send me a message with 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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