Understanding Beach Haven West Real Estate New Construction Sale Trends
Beach Haven West Real Estate
Beach Haven West sustained a direct impact from Hurricane Sandy at the end of October 2012. While the damage caused by Hurricane Sandy was undeniable and the unprecedented, it also created some unique opportunities for renovation and new construction in the Beach Haven West real estate market. New homes are being built all over the area, and many existing homes have been renovated and raised above the new base flood elevation limits. With so much investment taking place, the real estate market has a very positive outlook. Beach Haven West real estate new home sales are an excellent gauge of the local economy and a useful metric to gauge the health of the market.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West
Beach Haven West Real Estate New Home Sales
Sales of new construction single-family homes in Beach Haven West over the past few years are as follows:
- 2010: There were no new construction sales in the Beach Haven West real estate market
- 2011: There were 10 new construction homes sold with an average price of $391,273
- 2012:Five new construction single-family homes were sold in the Beach Haven West real estate market with an average sales price of $401,575
- 2013: There were six new homes sold with an average sales price of $472,233
- 2014: There were 10 new construction homes sold with an average sales price of $457,058 in Beach Haven West
The above information shows some interesting trends which differ from the Beach Haven West real estate market as a whole. Looking at the same time frame, 2010 was one of the strongest years for home sales with both the number of homes sold in the average sales price being higher, however there were no new construction sales during this year. By contrast, there have been more new construction sales since Hurricane Sandy been than three preceding years combined. In addition, the average sales price of a new construction single-family home is substantially higher than it was preceding Hurricane Sandy. This does not even take into account storm damaged homes that were purchased with the intention to build a new home! Taken as a whole, this information points to strong buyer activity in the higher price ranges of the Beach Haven West real estate market. As more and more new construction homes enter the market, this trend should perpetuate.
Buying a Home in the Beach Haven West Real Estate Market
New construction is an excellent gauge of the economy and an important indicator for the future of the Beach Haven West real estate market. With buyers ready, willing, and able to invest in new construction, especially at a higher price point than we have seen in past years, the prospects for increasing property values is strong. New construction offers many advantages such as modern amenities and a favorable base flood elevation. It is also possible to purchase an existing lot or storm damaged home and build a new home from scratch, often coming in under market value and creating instant equity. For more information about Beach Haven West real estate new home sales or if you have any questions about the Beach Haven West real estate market, contact the Beach Haven West Real Estate Group and we 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.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West