Surf City Real Estate Fourth Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The real estate market in Surf City showed steady activity during the fourth quarter of 2015. A comparison of the Surf City real estate market to the fourth quarter of 2014 shows three more homes sold in 2015. However, the average price was approximately $20,000 lower. When dealing with the large numbers that comprise the Long Beach Island real estate market, a $20,000 differential is more than acceptable to constitute a stable market. It is encouraging to know that the overall interest in the real estate market has increased, and good to see that homes sold in a much shorter time frame. Overall, the Surf City real estate fourth quarter sales in 2015 reflect the general trend of improvement we see elsewhere in the LBI New Jersey real estate market.

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Surf City Real Estate Fourth Quarter Sales in 2015

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

There were 17 single-family homes sold in Surf City.
The average price of a single-family home was $790,029.
The average price per square foot of a single-family home was $458.06.
On average, homes sold for 95.12% of their listing price and spent 124 days on the market.

The least expensive home to sell was 224 N. 7th Street. This was a bayside home on a 50’ x 100′ lot with 4 bedrooms and 1 ½ bathrooms. The home was in need of extensive renovation. It sold for $412,500 after spending 386 days on the market. The most expensive home to sell in Surf City was 24 Division Avenue. This was an ocean block contemporary just three houses from the beach. This well appointed home offered 5 bedrooms, 4 ½ baths, and a heated in-ground pool. This home sold for $1,780,000 after spending 128 days on the market. This home sold for nearly full price at 99.16% of the listing price.

Surf City and the LBI New Jersey Real Estate Market

Overall, the Surf City real estate market reflects the general improvement we have seen in the Long Beach Island real estate market. While the average price of a single-family home in Surf City did diminish somewhat compared to 2014, the difference between the average price is comparatively small, and is more than offset by the increase in activity we witnessed. Overall, market activity on Long Beach Island has been strong, and shows continued signs of improvement. For more information about Surf City real estate fourth quarter sales in 2015 or the LBI New Jersey real estate market, 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

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