LBI Oceanfront Homes for Sale
The magnificent Oceanfront homes on LBI have a wide-range of appealing options. From the laid-back buyer looking for tranquility on the island’s north end, to the thrill-seeker looking to be in the heart of the action in downtown Beach Haven – there is a suitable location for everyone. Combining the LBI lifestyle with expansive views of the Atlantic Ocean, cool ocean breezes, sunrises from your kitchen table, and falling asleep to the rhythmic sound of ocean waves crashing on the shore, its no surprise that Long Beach Island beachfront real estate is amongst the most highly sought-after real estate on the entire Jersey shore.
Whether buying or selling an oceanfront home on LBI, navigating this niche market and intricacies can feel overwhelming.
To assist you in accomplishing your LBI oceanfront real estate goals, we have compiled information on the following must-know topics.
As always, our team is just a phone call or text away to discuss your real estate goals or answer any questions you may have.
Oceanfront Homes Stats 2024 YTD
22
$5,130,000
108
$1,347
$5,150,000
95.2%
Pricing
Most LBI beachfront properties are single-family homes, which start at $2,500,000, with luxury oceanfront homes on LBI ranging from $4,000,000 up to $10,000,000+. Oceanfront condos options are limited, but on occasion one will hit the market – ranging from $500,000 for an entry-level one bed up to $1,000,000+ for particular 2-3 bedroom units.
Inventory
There are 966 oceanfront properties on LBI. In the current market, you can expect to find 20-30 LBI oceanfront homes for sale at a given point in time.
From 2015 to June 2020, an average of 72 LBI oceanfront homes were for sale, 55 sold yearly, and 115 listed. The arrival of the COVID buying surge saw the listings drop quickly to 47 oceanfront homes for sale by the end of 2020.
From 2021-2023, there was an average of 27 LBI oceanfront homes for sale, with 53 listed and 40 sold annually.
LBI Oceanfront Homes For Sale
LBI Oceanfront Sold Homes
Lot Sizes
The majority of LBI towns have a standard lot size of 50×100 for oceanfront properties. Meaning that the properties encompass 50 feet of ocean frontage and 100 feet of depth in these areas. In these towns, you will also find “non-standard” lots including smaller lots containing 40 ft wide of ocean frontage and oversized lots with 60-100+ feet of frontage.
The exceptions to this rule lie on the island’s north end. Both Loveladies and North Beach possess a standard lot size of 100 feet by 100 lending to some of the most expensive properties on the entire island. It’s important to note that the amount of oceanfront property sits on is the most significant factor in determining the value of a given property.
New Construction or Renovating
When constructing a new oceanfront home on LBI or expanding an existing home, it’s crucial to consider factors beyond lot coverage and setback requirements set by the municipality. Specific improvements and most new construction footprints must be submitted to and approved by the CAFRA – a state agency overseeing development in the coastal areas of New Jersey which applies to all of the beachfront and bayfront properties on Long Beach Island. This rule has certain exceptions, such as staying within the existing footprint of an applicable home or obtaining a permit by rule. It’s important to note that an approved CAFRA footprint is significant when buying or selling a teardown oceanfront home on LBI because the allowable size for a new build is the most critical factor when determining the value of the land.
Insurance
One of the largest annual expenses you incur as a beachfront property owner on LBI is insurance. A majority of the oceanfront homes in Long Beach Island sit in a VE flood zone, where flood insurance can vary from $200-$800 per month. Some other factors that affect the flood premium include the elevation of the land and the base flood elevation – which is the height of the lowest living floor compared to the minimum building height requirement. These factors can significantly impact the cost of flood insurance for otherwise comparable properties.