Oceanblock New Construction Sales Update LBI Real Estate
- High Tides Digital Marketing
- Nov 18, 2019
- 2 min read
Long Beach Island NJ Real Estate Ocean block New Home Sales
Long Beach Island
New construction sales are a helpful way to measure the overall LBI real estate market. Today we will look specifically at Oceanblock New Construction Sales Update LBI Real Estate in Long Beach Township. Specifically we are looking at the following:
New homes on the south end of Long Beach Island
True oceanblock homes with no streets to cross
Homes that meet the generally expected set of criteria such as 3,000+ sq feet of living space, a pool or room for a pool and ocean views
Oceanblock New Construction Sales Update LBI Real Estate
There have been four recent sales (last 6 months from the time of writing this article) and the show a lot of similarity:
Address | City | Current Price | Sq Footage | PPSF | Pool |
105 E Florida Ave | Beach Haven Park | $2,087,500 | 3265 | 639.36 | N |
101 E South Carolina Ave | Haven Beach | $2,250,000 | 4100 | 548.78 | Y |
7409 Ocean Blvd | Beach Haven Crest | $2,550,000 | 4000 | 637.5 | N |
112 E Texas Ave | Beach Haven Park | $2,600,000 | 3319 | 783.37 | Y |
There are a few things we can draw from this data. The average price of a new home under these criteria was $2,371,875. The average price per sq. foot was $652.25. There was a clear low point sale in 101 E South Carolina. This home showed the lowest price per sq foot but also was the largest home (which usually does produce a lower price per sq. foot). Likewise the highest sale, 112 E Texas, was the smallest house but had a large and impressive landscape package. The price per sq. foot is higher thanks to this and the smaller home. The remaining two homes, 105 E Florida and 7409 Ocean Blvd, both traded for an almost identical price per sq. foot, just under $640, which would appear to be the correct price per sq. foot for a new home on the ocean block.
Long Beach Island New Jersey (LBI NJ)
When looking to buy, sell or invest in the LBI real estate market you have to understand where we are in the market cycle. Right now, oceanblock sales are one of the most highly sought after segments of the market. Transactions are rather hard to come by for the simple fact that not many of them come on the market in the first place! That said, when an opportunity does present itself having the the right information and knowing what drives value can help to make a successful transaction. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
