Spray Beach Real Estate Fourth Quarter Sales in 2015
The real estate market in Spray Beach produced only one closed single-family home during the fourth quarter of 2015. While at first glance this may seem discouraging, it is important to remember the Spray Beach area is a small section of Long Beach Township, and there are many quarters where no closed transactions take place. This is certainly not to imply there is anything wrong with the area or with the greater LBI real estate market. It simply has to do with the lack of available inventory.
The single home to sell in Spray Beach was 108 E. 22nd Street, which was a 4 bedroom, 2 bath home. While marketed as a single-family home, this property could double as a duplex since it has an exterior staircase and second kitchen on the second floor. This home sold for $600,000 after spending 359 days on the market.
Spray Beach and the LBI Real Estate Market
A home sale like the one at 108 E. 22nd Street shows the amazing opportunity that exists in the LBI real estate market. This home is situated on a 42’ x 100’ lot, which is certainly big enough to build a new construction. The existing home is very functional and could be used either as a second home or a rental investment. This type of transaction shows the diversity that exists in the LBI real estate market and two prominent ways of investment. For more information about the Spray Beach real estate fourth quarter sales in 2015 or the LBI New Jersey 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 | email@example.com
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