Ship Bottom Real Estate Sales Update in the Fourth Quarter of 2013

Ship Bottom Real Estate and Long Beach Island New Jersey Real Estate Update in the Fourth Quarter of 2013

Ship Bottom Real Estate Sales Update in the Fourth Quarter of 2013
Ship Bottom Real Estate Sales Update in the Fourth Quarter of 2013

Ship Bottom NJ Real Estate

The Ship Bottom Real Estate Sales Update in the Fourth Quarter of 2013 showed some interesting activity. About the same number of homes sold in the third and fourth quarter and the average sales price remained stable. Home values were greatly influenced by storm damage home sales which drive the average price of a single family home lower (since these properties are sold as vacant land rather than a usable home). It goes without saying that 2013 presented some difficult challenges for the Long Beach Island area and the LBI real estate market. Hurricane Sandy’s impact will be felt for a long time, but the speedy recovery of LBI has helped to restore confidence in the local market.

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Ship Bottom Real Estate Sales Update in the Fourth Quarter of 2013

Sales of single family homes in the Ship Bottom real estate market are as follows:

  • Ten single family homes sold
  • The average price of a home in Ship Bottom was $557,690
  • On average, homes spent 129 days on the market

A total of over $5,500,000 worth of real estate sold in Ship Bottom. The least expensive home to sell was 103 E 28th Street, a 2 bedroom, 1 bathroom storm damaged home selling for $111,000. While this average price seems very low for Long Beach Island, it is important to point out that this property is a free standing condo that was listed as a single family home. The most expensive home to sell was 128 E 18th Street, a four bedroom, two and a half bathroom home on the oceanblock. This property offered many amenities and high quality finishes. This home sold for $1,145,000.

Ship Bottom and the LBI NJ Real Estate Market

Overall, 2013 ended up being a good year in the LBI real estate market. While the average price of a single family home is down Island wide, this is due to storm damaged homes driving down those averages. When non-damaged home are averaged (which is a better comparison as storm damaged homes have little to no value associated with the structure), the average price is actually a little higher than 2012! For more information about this Ship Bottom Real Estate Sales Update in the Fourth Quarter of 2013 of the LBI real estate market in general, 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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