The Dunes Real Estate 2016 Second Quarter Sales on Long Beach Island
The Dunes Real Estate 2016 Second Quarter Sales on Long Beach IslandLong Beach Island Real Estate
The LBI real estate market has shown continued improvement throughout the second quarter. Overall, sales of single-family homes have increased in both volume and price. This is not a surprise with stronger economic trends allowing investment opportunities to develop throughout the Long Beach Island real estate market. The Dunes real estate 2016 second quarter sales continue to support this trend of overall improvement in the Long Beach Island real estate market.
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The Dunes Real Estate 2016 Second Quarter Sales on Long Beach Island
Sales of single-family homes in The Dunes real estate market are broken down as follows:
- There were six closed transactions.
- The average price of a single-family home was $903,667.
- On average, homes spent 251 days on the market and sold for 93.03% of their listing price.
- The average price per square foot was $388.94.
The least expensive home to sell was 9 W. Ramapo Lane. This was a four bedroom two bathroom classic Cape Cod style house selling for $500,000 after spending 305 days on the market. This home sold for 91.08% of the listing price and the price per sq ft was $277.78. The most expensive home to sell was 12401 Beach Ave. which was a brand-new construction selling for $1,235,000. This home spent a shocking 865 days on the market and sold for 95.81% of the listing price. This home sold for a price per sq ft of $411.67 which is below the average for new construction in the Long Beach Island real estate market. To summarize, the real estate market on Long Beach Island has been witnessing strong growth in the real estate market and The Dunes was no exception. The trends we see throughout the LBI real estate market is that buyers continue to be concerned about flood insurance and are looking closely at the value of an investment. There are some outstanding opportunities for buyers in the LBI real estate market, so if you have any questions please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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