The Dunes Real Estate Fourth Quarter Sales in 2015

Long Beach Island New Jersey Real Estate

The real estate market in The Dunes on Long Beach Island had a strong fourth quarter in 2015, and compared to the fourth quarter of 2014, the same number of homes sold. However, the average price was approximately $400,000 higher! This had to do with the nature of homes that were sold, the majority being higher priced with new construction. The fact that buyers in the LBI real estate market were willing to spend large sums of money on newer homes points to the confidence of the LBI real estate market, as well as the developing trends that dictate that buyers predominantly seek new construction. The Dunes real estate fourth quarter sales in 2015 are the trends we see elsewhere in real estate market on Long Beach Island.

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The Dunes Real Estate Fourth Quarter Sales in 2015

Sales of single-family homes in The Dunes on Long Beach Island were as follows:

There were three single family homes sold.
The average price of a single-family home was $1,525,333.
The average price per square foot was $571.95.
On average, homes sold for 98.01% of their listing price and spent 117 days on the market.

The least expensive home to sell was 104 E. Old Whaling Lane. This was a four bedroom, two bathroom Cape Cod style home. This home sold for $887,000 after spending 159 days on the market. This sale represented 98.67% of the original listing price. The most expensive home to sell was 12505 Ocean Avenue. This oceanfront home featured 4 bedrooms with 3 ½ bathrooms and the square footage was just under 2,800 sq. feet. This home sold for $2,500,000, which represented 96.19% of the listing price. This home sold for $897.34 per square foot, which is surprisingly lower than the average price per square foot we see for oceanfront homes in the Long Beach Island real estate market.

The Dunes and the Long Beach Island New Jersey Real Estate Market

The trends we saw in The Dunes certainly are the trends we see elsewhere in the Long Beach Island real estate market. The market activity has been stable or increasing in nearly every town on Long Beach Island and the average price has been holding steady or increasing . All three homes sold in The Dunes were located on the oceanside or the oceanfront, which is a trend we see elsewhere in the LBI real estate market. While bayside homes certainly sell, and have appeal to buyers, oceanside homes do tend to sell more swiftly, as was certainly the case in The Dunes. For more information about the Long Beach Island real estate market or The Dunes real estate fourth quarter sales in 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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