Third Quarter 2014 Sales in Peahala Park

Long Beach Island and Peahala Park Real Estate Sales in the 3rd Quarter of 2014

Third Quarter 2014 Sales in Peahala Park
Third Quarter 2014 Sales in Peahala Park

Long Beach Island Real Estate

The third quarter of 2014 saw some of the strongest real estate activity in many months. The number of homes and the average price of a single family home have both increased on LBI. Buyer confidence in the LBI real estate market has been strong as the myths of un-affordable flood insurance were dispelled. While it is true that some homes will have expensive insurance rates, the vast majority of homes on LBI will not see significant increases. This knowledge has helped to boost Third Quarter 2014 Sales in Peahala Park.

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Third Quarter 2014 Sales in Peahala Park

Sales of single family homes in Peahala Park were as follows:

  • Three homes sold in the third quarter
  • The average sale price was $$554,167
  • Homes spent an average of 80 days on the market

The least expensive home to sell was 12 W Bayberry which sold for $390,000. This was a four bedroom, 1.5 bath Cape Cod on the bayside. The home had been flooded and then re-mediated after Hurricane Sandy. The most expensive home to sell was 22 E Mermaid which was a four bedroom, two and a half bath home that sold for $750,000. 22 Mermaid was an updated Cape Cod on the oceanside.

LBI and Peahala Park Real Estate

It is interesting to see that for the second consecutive quarter all the homes sold in the Peahala Park real estate market were non-elevated Cape Cod style homes. Looking back to the market one year earlier, we saw much more fear of non-elevated homes. This buyer activity is representative of buyer interest elsewhere in the LBI real estate market with home buyers willing to consider a wide range of housing options! For more information about the LBI real estate market or Third Quarter 2014 Sales in Peahala Park, please send me a message and I will respond right away!

 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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