Nathan Colmer | Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
Single-family oceanside home sales in the Long Beach Island New Jersey real estate market can be one of the most active areas of the LBI real estate market. The oceanside locations, placed between Long Beach Blvd. and either Beach Avenue or Ocean Boulevard, offer the convenience of a short walk to the beach without the higher price point of their ocean block and oceanfront counterparts. There were a wide range of homes sold over the past six months and single-family oceanside home sales in the Long Beach Island real estate market helped to contribute to the positive momentum we have been experiencing throughout the LBI real estate market.
Before investing in the LBI real estate market it is important to have a handle on the current market trends. Like any market, homes on Long Beach Island are subject to high points and low points. Being able to understand the past and current market will help a buyer to anticipate future home values and safeguard their investment. For more information about LBI real estate oceanside home sales you may like to visit my monthly home sales page here.
Oceanside homes are located east of Long Beach Blvd. and offer the advantage of not having to cross the main road to access. Oceanside homes are a very popular location in the LBI real estate market as they offer a less expensive price point than their ocean block and oceanfront counterparts, yet still offers easy beach access. Most Oceanside homes are located in the A flood zone which is manageable in terms of flood insurance.
Above all else, location drives value on Long Beach Island and determines liquidity in the LBI real estate market. Oceanside homes, like oceanblock and oceanfront homes, offer the convenience of not having to cross the main road. This is very attractive to buyers, renters and end users and therefore oceanside homes are very popular. By contrast, bayside homes will not only cost less, but will usually take longer to sell than their oceanside counterparts. While there are some advantages to living on the bayside, most buyers prioritize distance to the beach above all else. When pricing a home, the location must be taken into account and help gauge the liquidity of the market. With fewer buyers willing to look on the bayside, the listing price of a home must be taken into account.
Oceanside homes are located east of Long Beach Blvd but will have at least one street to cross, usually Beach Ave or Ocean Blvd, to access the beach.
The areas shaded in red in the map show a common example of oceanside home locations in the LBI real estate market.
There are a few facts about flooding than any buyer should be aware of when looking to purchase a home in the LBI real estate market. They are:
Flooding is in fact an inevitability when owning a home on Long Beach Island or any other shore towns. Barrier islands, by their very meaning, imply that they are the first line of defense against any storm. That said, Long Beach Island is unique in that it tends to be at a higher elevation and other shore areas. This is very helpful in defending against future storms and hurricanes. Most of the flooding that occurs on Long Beach Island will be limited to streets in big storms. It is very uncommon for a home to sustain water damage.
Bayside areas are a greater risk of flooding than their ocean side or ocean block counterparts. Contrary to popular opinion, flooding occurs on the Bayside areas first. When a storm the increase in water volume, also known as storm surge, will fill the back bays and encroach on land. Oceanside areas, which are at a higher elevation to begin with, will therefore be safer in future storms.
Most of the oceanside homes on Long Beach Island are rated in the "A" flood zone. This is a relatively safe designation by comparison and therefore insurance rates tend to be manageable. There are many areas on the oceanside that haven ground elevations high enough to support three stories of living space legally which is a testimony to the high elevation. Therefore, many homes on the oceanside will be above base flood elevation even if they are not raised!
Like many seasonal areas, Long Beach Island has some distinct trends throughout the year. Long Beach Island experiences a certain activity during the busy summer months of late June through early September which is flanked by the shoulder seasons of spring and fall. Winter sees little to no interest in the summer rental market on Long Beach Island. With such a small window of opportunity, it is important to understand the market and make sure the rental property is the best among its competition and remains a profitable investment. There are three ways to help accomplish this goal. They are:
While all locations on Long Beach Island will see interest in rental market, there are some ways to maximize perspective tenants interest. Oceanfront, ocean block, and Oceanside properties tend to rent more quickly than their bayside counterparts. Homes in Beach Haven or in close proximity to local attractions will also see increased activity.
Oceanside homes in particular offer some unique advantages over their competitors. The price of a single family home or duplex on the oceanside will be less than a home closer to the beach (oceanblock) or right on the beach (oceanfront). While the rental rates will be slightly less as well, they differential between the purchase price and the rental rates of the respective locations skews in favor of oceanside properties. In other-words you will stand a better chance of a return on an oceanside home strictly from a rental standpoint thanks to the lower purchase price yet high rental rates.
Visit the Flood Insurance section of my website for more information about ownership costs for homes in the LBI NJ real estate market.