Surf City Real Estate 2016 Second Quarter Sales on Long Beach Island

Surf City Real Estate 2016 Second Quarter Sales on Long Beach Island

Surf City Real Estate 2016 Second Quarter Sales on Long Beach Island

Surf City Real Estate 2016 Second Quarter Sales on Long Beach Island
Surf City Real Estate 2016 Second Quarter Sales on Long Beach Island

Long Beach Island Real Estate

The real estate market in Surf City showed stable activity which is a trend we have seen elsewhere throughout the Long Beach Island real estate market during the second quarter. While the same number of homes sold in 2016 as in 2015, the average sales price was slightly lower. This has more to do with the dynamics of homes sold rather than any negative trend in the LBI real estate market. Surf City real estate 2016 second quarter sales on Long Beach Island continue to reinforce the strength and stability of the real estate market in the Long Beach Island.

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Surf City Real Estate 2016 Second Quarter Sales on Long Beach Island

Sales of single-family homes in the Surf City real estate market on Long Beach Island were broken down as follows:

  • There were 15 closed transactions.
  • The average price of a single-family home was $685,900.
  • The average price per square foot was $390.78.
  • On average, homes spent 172 days on the market and sold for 93.82% of their listing price.

The least expensive home to sell was 111 N. 3rd St. which was a small two bedroom one bathroom house on an undersized lot. This home sold for $382,500 after spending 94 days on the market. This represented a sales price to list price ratio of 91.29% and price per square foot of $528.31. The most expensive home to sell was 32 N. 13th St. which was a nearly new Oceanside house just six houses off the beach. This home has four bedrooms with 4 1/2 bathrooms and over 3,000 sq. feet of living space. The home sold for $1,300,000 after spending 265 days on the market. This represented a sales price to list price ratio of 92.92% and price per square foot of $392.63.

How’s the Real Estate Market in Surf City?

Overall, Surf City and the Long Beach Island real estate market performed well during the second quarter of 2016. While Surf City’s average price was slightly lower, that had to do more with the nature of homes sold rather than a downward trend in the LBI real estate market. Data continues to show prices for single-family homes in the Long Beach Island are on the rise and is a trend we expect to see perpetuating throughout the rest of 2016. For more information about Surf City real estate 2016 second quarter sales on Long Beach Island 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

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

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