Oceanside LBI New Construction 2018 Sales
- Jan 3, 2019
- 2 min read
Long Beach Island Real Estate Oceanside Sales in 2018
LBI Real EstateNew Construction
A study of oceanside LBI New Construction 2018 Sales is an excellent way to gauge the overall health of the Long Beach Island real estate market. Investment by building a spec home on Long Beach Island can realize a tremendous profit and it provides a ready supply of inventory for those buyers who want a new home with top of the line amenities but do not want to go through the process of building a home themselves. Overall 2018 fared well for new construction showing a total of 31 single family new construction homes sold on the Oceanside with an average price of $1,589,853. In total there were about 70 new homes sold on LBI when taking into account bayside homes, oceanfront homes, etc.
Oceanside LBI New Construction Sales in 2018
Below is a month by month breakdown of all single family new construction homes sold in the Long Beach Island real estate market during 2018 on the oceanside and oceanblock only. I have left out the oceanfront locations, which tends to trade much higher, and the bayside locations which tend to trade lower. The oceanside and oceanblock offer a good sense of the market for a new home on LBI.
Month | Sales, Number of | Sale Price, Average |
Jan | 2 | $1,550,000 |
Feb | 1 | $2,937,500 |
Mar | 3 | $1,413,333 |
Apr | 1 | $1,260,000 |
May | 3 | $2,086,667 |
Jun | 3 | $1,028,000 |
Jul | 5 | $1,642,800 |
Aug | 3 | $1,340,000 |
Sep | 1 | $1,150,000 |
Oct | 4 | $1,568,750 |
Nov | 3 | $1,886,000 |
Dec | 2 | $1,543,475 |
Buying or Building a New Home in the LBI Real Estate Market
Investment on Long Beach Island offers many advantages. The LBI real estate market is usually stable and building a new home can offer an immediate equity position. Buying a new home ensures that the home is compliant with current codes, most notably adhering to current flood codes and keeping the cost of flood insurance low. Understanding Oceanside LBI New Construction Sales in 2018 and the overall market trends that we see developing on Long Beach Island is of course key to buying, selling or investing in the LBI real estate market and I can provide details on these trends If you have any questions please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
