2017 Real Estate Market Recap

2017 Real Estate Statistics in Brigantine Beach, NJ

 

 

 

Provided by Ashore Realty Inc.  Serving Brigantine for 30 years

 

 

 

 

 

506 Brigantine properties went to the closing table in 2017. That number is up a whopping 35% from the year before and a 55% increase from the number of closings in 2015.  This is a clear sign that investors are becoming increasingly more confident in the 2nd home/investor market. 

 

 

The average selling price of a property in Brigantine increased 4% in 2017 as compared to the year before.  

The 4% increase is consistant for single family homes, condos and multi-family homes.  

 

 

 

The average residential selling price in 2017 was $411,000

 

The highest priced home sold for $1,800,000

10 homes sold for over $1,000,000 in 2017 as compared to 7 homes in 2016

 

The lowest priced home sold for $77,000 (townhouse in poor condition)

 

 

 

The average condominium selling price in 2017 was $224,000

 

The highest priced condo sold for $800,000 (3 bedroom ocean front unit)

 

The lowest priced condo sold for $48,000 (Dolphin Cove unit in poor condition)

 

 

 

The average duplex selling price in 2017 was $314,000

 

The highest priced multi-family property sold for $740,000

 

The lowest priced multi-family property sold for $145,000 (tear down with oil tank)

 

 

 

 

As of this writting there are currently 7 bank foreclosures available for sale in Brigantine

 

CLICK HERE TO VIEW ALL

 

 

There are two properties being sold short (also know as a short sale)

 

CLICK HERE TO VIEW ALL

 

 

 

 

2017 saw a 35% increase in units sold and a 4% increase in prices.  It's very possible property values in Brigantine will increase significantly in 2018.  Historically, prices follow volume!

 

As of 1/9/18 there are 373 properties available for sale in Brigantine.  

That number is drastically lower than the past few years!   

 

(59 properties in Brigantine are currently under contract pending settlement)

 

 

Is Atlantic City going through a renaissance period?

 

 

 

Thinking of investing in Brigantine Beach, NJ? 

to begin your property search

 

 

 

 

 

 

 

Information obtained by the South Jersey Shore Regional MLS