A Look At Single Family Home Sales in Beach Haven West
Beach Haven West Real Estate
In the wake of Hurricane Sandy, the Beach Haven West real estate market has been undergoing some significant changes. It is important for any buyer or seller in Beach Haven West to be aware of the current trends as this has a profound impact on their investment. Since Hurricane Sandy, there have been new topics for both buyers and sellers to understand such as flood insurance costs, storm damaged homes, new construction, and a host of other variables that can impact one’s specific situation. With so much in place, it can be helpful to take a quick look Beach Haven West Real Estate Home Values to gain some insight into how home pricing is developing.
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 Home Values
The average sale price of single-family homes in Beach Haven West between 2010 and 2014 were as follows:
- 2010: $348,013
- 2011: $315,157
- 2012: $292,500
- 2013: $211,891
- 2014: $272,227
At first look, there is a obvious trend visible in Beach Haven West real estate home values. Since 2010, the average price of a single-family home in Beach Haven West is certainly decreased however there are other variables that must be considered before making such a blanket statement. Hurricane Sandy made landfall at the end of October 2012 and the impact of the storm was undeniable. Perhaps there have been no greater influence in the Beach Haven West real estate market than storm damaged homes which were created as a result of the storm. The storm damaged homes, which are categorized in our multiple listing service and a single-family home, are generally treated the same as vacant land to make way for new construction. Therefore, the overall investment required for these homes is substantially higher than the average sales price would suggest. For example, the average sales price of a home in 2010 was $348,013. While today we see a lower average sales price, much of this has to do with storm damaged homes, which remember were sold with no consideration given to the existing structure, driving the sales price lower. What the statistics do not take into account is the cost to build a new home, which will generally be around $200,000. When the cost of construction is added to the price of the land purchase we see a much higher investment and a much higher valuation for single-family homes in the Beach Haven West real estate market.
Beach Haven West Real Estate Trends
The future of the Beach Haven West real estate market certainly looks positive. With such a substantial investment taking place throughout the area, new construction/elevated homes making for a more storm ready community, and a better understanding of flood insurance, the prospects for increasing home values is evident. For more information about Beach Haven West Real Estate Home Values or buying or selling a home in Beach Haven West, 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