A Look at Single Family Home Sales Over $500,000
Beach Haven West Real Estate
The real estate market in Beach Haven West has been undergoing a significant transformation and Hurricane Sandy. On nearly every street in the area, new construction is taking place and existing homes that are being renovated and raised. With so much improvement and investment taking place in Beach Haven West, the expected outcome is for property values to increase over the next several years. In anticipation of this, it is helpful to take a look at luxury home sales in the Beach Haven West real estate market, in other words properties and have sold for over $500,000, in the past several years.
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
Luxury Home Sales in the Beach Haven West Real Estate Market
Sales of single-family homes in Beach Haven West over $500,000 between 2010 in 2014 are listed below:
- 2010:7 homes sold with an average sales price of $573,500
- 2011:8 homes sold with an average price of $558,050
- 2012:6 homes sold with an average sales price of $558,333
- 2013:5 homes sold with an average sales price of $605,800
- 2014:5 homes sold with an average sales price of $549,155
A look at the data shows an interesting trend. At first look, both the number of homes sold and the average sales price in the luxury Beach Haven West home market have decreased. What is not calculated in the data above are a number of new homes that are being built. 2013 saw the lowest average sales price of a single-family home in the past several years. Much of this has to do with storm damaged homes, which were categorized as single-family homes but marketed as vacant land with no consideration given to the structure, lowering the average sales price. The storm damaged homes will, in most cases, be demolished and new homes built in their place. The combined investment of the land purchase and the construction will often be in excess of $500,000. Therefore, the overall number of buyers in the luxury home market has in fact increased.
Buying a Home in the Beach Haven West Real Estate Market
There are a number of buying opportunities currently presenting themselves in Beach Haven West. These opportunities can take the form of storm damaged homes, where a buyer can construct a new home and realize immediate equity, to purchasing a ready built home with modern amenities, a favorable flood elevation, and new storm ready safety measures. In addition, there are a number of traditional Beach Haven West homes at favorable flood elevations that can be an affordable entry point to the local real estate market. For more information about luxury home sales in 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