Single Family Home Sales in the Spray Beach Real Estate Market
The real estate market in Spray Beach showed steady activity when compared to one year. There were a total of three single-family homes sold during this time which mirrors the activity we saw in 2015. The style and price range of homes sold in the Spray Beach real estate market reflect the general trend we have been witnessing over the past few months in the Long Beach Island real estate market. Generally speaking, we have been seen strong competition for affordably priced single-family homes in the $500,000-$750,000 price point. This trend is exemplified Spray Beach 2016 first-quarter real estate sales.
Spray Beach 2016 First Quarter Real Estate Sales
Sales of single-family homes in the Spray Beach real estate market on Long Beach Island are broken down as follows:
- There were three single-family homes sold
- The average price was $645,833.
- On average, homes sold for $525.41 per square foot.
- The sales price to list price ratio was 94.7% in homes average of 233 days on the market
The least expensive home to sell was 2209 North Beach Ave. which was a for bedroom two bathroom home situated on a 40 x 100 lot. It is important to note out that there were some to safety concerns with his home, as it was discovered that led was in the water supply. This most likely dates back to the original construction of the home which was in the early 1900s. This home was essentially sold for land value and traded for $562,500. While officially a home on the spent one days on the market, it is important to note out that was previously listed. So the actual time it took to sell was closer to a year. The home sold for 90% of the list price which represented a $376.51 per square foot evaluation. The most expensive home to sell was 15 E. 22nd St. which was a move-in ready duplex/single-family home. This home took a shocking 447 days to sell but ultimately closed for $770,000, which represented 96.37% of the listing price. This home sold for $350 per square foot.
The real estate market on Long Beach Island and specifically in Spray Beach showed very interesting trends we see throughout the entirety of Long Beach Island. Two of the three homes sold during this quarter were sold as teardown’s to make way for new construction. All three homes sold were located on the Oceanside. This again shows how property east of Long Beach Blvd. tend to sell faster and for more money than their bayside counterparts. It is important for buyers and sellers to keep in mind location when evaluating price points, as it obviously has a great deal to do with the time a home will spend on the market as well as the final trading price. Overall, Spray Beach 2016 first-quarter real estate sales help to support the strong Long Beach Island real estate market. For more information about the current trends we see developing on Long Beach Island please 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 | email@example.com
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