2024 Spray Beach Real Estate Market Report
- Nathan Colmer
- 2 hours ago
- 4 min read
2024 Spray Beach Real Estate Market Report and Long Beach Island New Jersey Home Sales
The Long Beach Island (LBI) Real Estate Market in 2024
The LBI real estate market in 2024 continued to show remarkable strength across nearly every price segment, supported by low inventory, consistent buyer demand, and a growing appreciation for coastal lifestyle amenities. Buyers looking for homes in premium neighborhoods like Spray Beach found themselves navigating a highly competitive environment defined by limited turnover and rising price‑per‑square‑foot benchmarks. As more buyers sought turnkey properties, new construction and renovated homes maintained stronger momentum than older, unrenovated stock. Overall, 2024 reaffirmed the stability and desirability of the broader LBI real estate landscape, with Spray Beach real estate standing out as one of its most in‑demand sections of Long Beach Island.
By: Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Spray Beach NJ Real Estate Market Overview — 2024
The 2024 Spray Beach real estate dataset includes six closed residential transactions, offering a clear and statistically rich snapshot of pricing, home size trends, construction quality, and buyer behavior throughout the year.
Spray Beach NJ Real Estate Pricing Trends in 2024
Average & Median Sales Prices
The 2024 Spray Beach market posted strong upper‑tier activity, with the following results:
Number of closed sales: 6
Average sales price: $2,316,000
Median sales price: $2,475,000
Lowest sale: $1,223,000
Highest sale: $3,275,000
The price range demonstrates a market heavily concentrated in the high‑value tier, with most closings occurring well above the $2M mark. This reinforces Spray Beach’s position as one of the more exclusive and sought‑after neighborhoods within Long Beach Township.
Price‑Per‑Square‑Foot (PPSF) Performance
The dataset shows consistently strong PPSF metrics:
Average PPSF: $999.86/sf
Median PPSF: $993.56/sf
PPSF Range: From $762.94/sf to $1,292.42/sf
These numbers place Spray Beach comfortably among the most competitive sections of LBI in terms of land value, renovation quality, and proximity to both beach and bay. Homes built or renovated after 2014 achieved the top PPSF marks, highlighting the ongoing premium for new construction.
Home Size, Layouts & Property Characteristics
Living Area Trends
Across all sales, home sizes were notably large compared to the typical LBI home footprint:
Average living area: 2,274 sq ft
Median living area: 2,491 sq ft
Home size range: 1,603 sq ft – 2,534 sq ft
This reflects a market leaning strongly toward spacious, amenitized homes tailored for multi‑generational use, extended summer stays, and higher‑end rental potential.
Bedroom Distribution & Home Functionality
Spray Beach sales in 2024 showcased a clear preference for larger properties with expanded layouts:
3‑bedroom homes: 2 sales
4‑bedroom homes: 1 sale
5‑bedroom homes: 3 sales
The dominance of 5‑bedroom homes underscores the area’s appeal to families seeking sizable, comfortable properties that can host guests or generate high‑end rental income.
Construction Era Trends & Market Premiums
Age of Homes Sold in 2024
Year‑built data shows a wide distribution:
Oldest construction: 1907
Newest construction: 2024
Median year built: Approximately 2018
This median year built reflects significant activity among newly constructed or recently developed homes. Buyers clearly demonstrated a preference for elevated, modern, code‑compliant builds—many of which commanded PPSF values near or above $1,000/sf. Newly built homes (2023–2024) accounted for three of the six total sales.
List‑to‑Sale Price Analysis
Negotiation Range & Market Efficiency
Spray Beach in 2024 saw exceptionally tight list‑to‑sale ratios, revealing disciplined pricing and strong buyer competition:
Ratios ranged from 94.23% to 101.92%
Several properties sold very close to the list price
One property sold over asking, reflecting bidding pressure or strategic under‑pricing
This level of pricing efficiency suggests that sellers understood market dynamics and buyers were prepared to act quickly on appropriately positioned listings.
With four properties closing between $2.45M and $3.275M, the upper segment of Spray Beach remained particularly active. Homes built in the 2014–2024 period anchored the luxury category, benefiting from:
Larger square footage
Modern coastal architecture
High‑end finishes (elevators, rooftop decks, pools, multi‑level outdoor spaces)
Prime east‑of‑Boulevard locations
Spray Beach continues to draw luxury‑segment buyers looking for a quieter residential environment while remaining close to Beach Haven’s dining, shopping, and entertainment district.
2024 Spray Beach Real Estate Market Report and Long Beach Island New Jersey Home Sales
The 2024 Spray Beach NJ real estate market delivered robust pricing, strong absorption, and an unmistakable bias toward larger, newly constructed homes. With an average sales price exceeding $2.3M and a median PPSF near $1,000, Spray Beach confirmed its position as a premier micro‑market within LBI. Limited inventory and high buyer demand resulted in competitive list‑to‑sale ratios, while modern construction and updated homes captured substantial premiums.
Buyers seeking luxury coastal living found compelling options in the Spray Beach real estate market—yet the small number of total sales underscores just how tight and exclusive this submarket has become. As LBI continues to evolve, Spray Beach real estate remains one of its most stable and desirable real estate segments, offering long‑term value, lifestyle appeal, and strong market fundamentals.
If you are looking to buy, sell, or invest in the LBI real estate market, contact me, Nathan Colmer, for expert guidance backed by years of local experience, deep market insight, and a proven track record in helping clients navigate LBI's unique market. My experience extends over 20 years of selling homes on Long Beach Island, with a special focus on second homes and investment properties. In addition to representing buyers and sellers, I personally invest in the LBI real estate market and can share my firsthand knowledge of this investment strategy. Whether you are searching for a vacation home, planning a wise investment, or ready to list your property, I can offer you personalized strategies and unmatched knowledge to help you succeed.
By: Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
