Surf City Real Estate Transactions in the First Quarter of 2015

Surf City and Long Beach Island Real Estate Sales Update

Surf City Real Estate Transactions in the First Quarter of 2015
Surf City Real Estate Transactions in the First Quarter of 2015

Long Beach Island Real Estate

The Long Beach Island real estate market showed strong activity in growth during the first quarter of 2015. The first quarter is typically a busy time for the LBI real estate market as buyers look to secure a home with time to make any wanted renovations prior to the summer season. Surf City Real Estate Transactions in the First Quarter of 2015 reflected the strong trends we are seeing in the LBI real estate market with a higher volume of activity and a stable sales price.

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Surf City Real Estate Transactions in the First Quarter of 2015

Single-family real estate transaction and Surf City were as follows:

  • Seven single-family homes sold during the first quarter
  • The average sales price was $923,143 and median sales price was $675,000
  • Homes spent an average of 332 days on the market and sold for 97.5% of their listing price

The least expensive home to sell was 273 N. 11th St. which was a three bedroom 2 1/2 bath home. This property sold for $425,000 which translates to $343.02 per square foot.  The most expensive home to sell was 115 South Ocean Ave. which was an impressive six bedroom 6 1/2 bathroom home built in 2005. This property sold for $2,350,000 or $671.43 per square foot.

Long Beach Island Real Estate and Surf City Real Estate Transactions

Overall, the Surf City real estate market performed in line with the rest of the LBI real estate market. It is interesting to see that the average days on market was substantially higher than we typically see in the LBI real estate market. This higher than average time is skewed by a particular sale that spent a shocking 1484 days on the market which greatly increases the average for the area. A more realistic timeframe when this property is taken out of the equation is 209 days which is far more in line with the averages we typically see. The average price of $923,143 is certainly a line with the averages we see in the rest of the LBI real estate market. For more information about Long Beach Island real estate home sales or Surf City Real Estate Transactions in the First Quarter of 2015, 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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