Shopping For the Best Home Values in the Long Beach Island New Jersey Real Estate Market on LBI NJ
Shopping For The Best Values in the LBI NJ Real Estate MarketThe Long Beach Island NJ Real Estate Market
Since January 1st 2013, the LBI real estate market on Long Beach Island has shown significant increases in activity. While the impact of Hurricane Sandy in October of 2012 forever changed the LBI landscape, the real estate market quickly regained its momentum of 2012 and in many cases prices even increased! Therefore, it is important to understand Shopping For The Best Values in the LBI NJ Real Estate Market when looking to buy in the LBI NJ Real Estate market!
Shopping For The Best Values in the LBI NJ Real Estate Market
While Long Beach Island is divided into several towns, the difference in the size and location of each make an assessment difficult. Therefore, it is best to examine the market activity in the various price ranges to assess where the best values in the Long Beach Island can be realized. To do this we will look at sales between January 1st 2013 and October 1st 2013.
- For homes priced $500,000 and under there are currently 41 active listings and there have been 45 closed transactions on LBI
- For homes priced between $500,000 and $1,000,000 there have been 117 closed transactions and there are currently 210 homes for sale on LBI
- For homes between $1,000,000 and $2,000,000 there are 150 active listings and there have been 41 closings.
- For homes on LBI priced $2,000,000 and over there are 61 active listings and there have been 11 closed transactions
This information goes a long way to show where buyer activity has been centered. Clearly the most activity has taken place in the lower price ranges in the LBI real estate market, mostly due to the influx of storm damaged homes after Hurricane Sandy. It is likely that the next price bracket, which has historically been the most active area of the LBI real estate market, will gain ground now that the majority of storm damaged homes have cleared the market. It is also interesting to note that it is in this “middle” price range that some of the best deals can be found in newer styled homes that are elevated on pilings and have been built within the last 10 years.
Buying on Long Beach Island in the LBI Real Estate Market
If you are considering buying in the LBI real estate market, it is helpful to have an understanding of the different habits of buyers. Shopping For The Best Values in the LBI NJ Real Estate Market involves not only researching the market as a whole, but also the specific style of home you are interested in. If you would like more information about the LBI real estate market and the different home styles, please contact me, Nathan Colmer and I will be happy to help you! You can call, email or text me anytime!
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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