Ship Bottom Real Estate Third Quarter Sales in 2015

Ship Bottom Real Estate Third Quarter Sales in 2015

Ship Bottom Real Estate Third Quarter Sales in 2015
Ship Bottom Real Estate Third Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The Ship Bottom real estate market showed slower than expected activity with only four single-family homes sold in the third quarter. This is somewhat surprising in Ship Bottom which constitutes a rather large area of Long Beach Island, and generally has strong market activity. It’s interesting to point out that there were five condominium sales during this quarter. It is very rare for the condo market to outpace a single-family home market. That said, Ship Bottom real estate third quarter sales in 2015 did produce some interesting results, and reflected the current trends we see elsewhere in the LBI real estate market.

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Ship Bottom Real Estate Third Quarter Sales in 2015

Sales of single-family homes in the Ship Bottom real estate market on Long Beach Island were as follows:

  • Four single-family homes sold
  • The average sales price of a single-family home was $1,127,500 with a median sales price of $822,500
  • The average price per square foot of a single-family home was $444.38
  • On average, homes spent 279 days on the market
  • The homes sold for 93.15% of their listing price

The least expensive home to sell was 281 W. 17th Street. This home traded for $315,000 after spending 444 days on the market. The most expensive home to sell was 116 E. 11th Street. This was a 5 bedroom 4 ½ bath new construction selling for $2,550,000. This home sold after spending 265 days on the market and traded for 94.48% listing price.

Ship Bottom and the LBI Real Estate Market

The trends we saw in Ship Bottom during the third quarter reflect those we see elsewhere on Long Beach Island. It is no surprise that an impressive new construction, like 116 E. 11th St., sold for such a high price point. New homes tend to sell quickly and for a higher valuation than older homes on Long Beach Island. The least expensive sale, 281 W. 17th St., is somewhat illusionary as this home was storm damaged and sold essentially for land value. A new home will be built in its place which will substantially increase the overall investment. For more information about Ship Bottom real estate third quarter sales in 2015 or LBI New Jersey real estate 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

Click here to search all homes for sale in the Long Beach Island NJ real estate market