The small borough of Point Pleasant Beach, located scenically along the shore in the state of New Jersey, boasts a population of 4,552 people and consists of only a single neighborhood. It is ranked #334 in New Jersey, in terms of the size of its community. So, why would this small community attract real estate investment? “Of important note, Point Pleasant Beach is also a borough of artists. Point Pleasant Beach has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Point Pleasant Beach’s character,” says Neighborhood Scout.
Would you be surprised to learn that Point Pleasant Beach consistently ranks among the most expensive real estate, not just in New Jersey, but also across the United States? Point Pleasant Beach real estate is highly sought after, not just because of the quiet community here, but also because this area has some of the best amenities for education, public transport, entertainment, healthcare and more.
What the Housing Market Looks Like in 2017
Source: Trulia, Median Sale Price in Point Pleasant Beach (https://www.trulia.com/real_estate/Point_Pleasant_Beach-New_Jersey/market-trends/)
According to the latest data released by Trulia, median home sales in Point Pleasant Beach have increased 30% over the past year, to reach $118,750. The average price per square foot has also increased through this period, from $284 to $339. In fact, according to Zillow’s predictions, home values in this neighborhood are expected to rise another 3.4% through the end of June 2018. Needless to say, whether you are looking for investment purposes or to give out on rent, investing in real estate in this community seems like a good idea right now.
To support this, Trulia released data for June-July 2017, stating that the median home sales price in Point Pleasant Beach stood at $516,250, while the median rent per month stood at $2,500. In short, the real estate market at the Jersey Shore is certainly looking up.
Data for the second quarter of 2017 reveals that the average sales price for single family homes in this area saw a 4% rise to $631,478, as compared to the second quarter of 2016, when the average sales price stood at $606,442. The first quarter of 2017 saw an even higher rise in average single family homes sales price, growing 5% from the same quarter in 2016.
To add to this, Area Vibes scored Point Pleasant Beach 76 on “livability,” indicating that this neighborhood is “extremely livable.” And why not? The unemployment rate here is lower than the US average, with jobs having increased 2.34%. For families with young children, this is also where there are some great options for schooling. If you are looking for a quiet, post-retirement life, what could be more relaxing than a waterfront property in a small and peaceful community?
So, if you are looking to relocate or wanting to invest in real estate in an area that is likely to bring you a high return on investment, Point Pleasant Beach certainly looks inviting.