The Dunes Second Quarter Real Estate Sales in 2015

Long Beach Island Real Estate

The Dunes real estate market reflected the strong trends we are currently seeing in the LBI real estate market as a whole. There were substantially more sales in The Dunes during the second quarter of 2015 than there were during the second quarter of 2014. The Dunes second quarter real estate sales in 2015 were as follows:

There were seven single family homes sold in The Dunes
The average sales price of a single family home was $719,571
On average, homes spent 324 days on the market and sold for 94.1% of their listing price

The least expensive home to sell was 12 West Ramapo Lane, which was a four bedroom, two bath home selling for $525,000. This home sold for 95.6% of the listing price after spending 540 days on the market. Most expensive home to sell was 12701 Beach Ave., which was a four bedroom three bathroom oceanside home selling for $937,500. This home sold for 94.2% of the listing price after 212 days on the market. The median sale price of a single family home was $714,500 and the average price per square foot was $383.74.

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The Dunes and the Long Beach Island Real Estate Market

Generally, The Dunes is considered to be a highly sought after area of Long Beach Island. It also tends to have a higher sale price and a higher price per square foot. Interestingly, these assumptions are challenged by the statistics we see during the second quarter of 2015. In fact, the second quarter showed a substantially longer than average amount of days on the market, and a lower price per square foot than many of the other areas in the LBI real estate market. A look at the style and location of homes sold does shed some light on this as six of the seven properties were located on the bayside. Generally, bayside homes sell for a lower price, and will take longer to sell than their oceanside counterparts. For more information about The Dunes second quarter real estate sales in 2015 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

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