Ship Bottom Real Estate Second Quarter Sales in 2015

Long Beach Island Real Estate

The Ship Bottom real estate market had a very active second quarter in 2015. While the number of homes sold in 2015 was the same as 2014, the average price was substantially higher. This can be explained by a combination of the overall improvement of the LBI real estate market, and the presence of new or renovated homes coming on the market. Both of these trends have helped to contribute to a stronger Long Beach Island economy and a more enjoyable vacation destination. Ship Bottom real estate second quarter sales in 2015 were as follows:

The least expensive home to sell was 210 Ship Bottom Ave., which was a two bedroom, one bathroom home selling for $315,000. This home sold after spending 73 days on the market, and traded for 81.82% of the listing price. The most expensive home to sell was 136 E. 14th St., which was a 4 bedroom, 2 1/2 bath home selling for $1,505,000. This home spent 201 days on the market, and sold for 97.76% of the listing price. The median sale price of a single family home in Ship Bottom was $622,500, and the average price per square foot was $399.82.

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Ship Bottom Real Estate and the LBI Real Estate Market

Single family home sales in Ship Bottom tend to be at a lower average and median price than elsewhere on Long Beach Island. This has to do with a more dense area, creating smaller lot sizes, which in turn sell for a lower price. It is important to remember that land is generally the most important asset of any real estate transaction on LBI, so smaller lot sizes will in turn create a lower price. Additionally, Ship Bottom has a very large bayside area relative to the small oceanblock area. With homes east of Long Beach Blvd. generally trading for more than their bayside counterparts, it is no surprise to see a lower average sales price in an area comprised mostly of bayside homes. Overall, market activity in Ship Bottom was strong and helped to contribute to a very healthy second quarter for the Long Beach Island real estate market. For more information about Ship Bottom real estate second quarter sales in 2015 or the LBI real estate market in general, 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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