In wake of Sandy, L.B. home sales rebound

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There are currently 576 homes for sale in Long Beach, according to Zillow, and 1,001 have been sold since October 2012. Of those, 54.9 percent were single-family homes, 20 percent were condos and co-ops, and the rest were not classified.

Local agents said that prospective homeowners are taking notice of the city’s recovery. “Everything is coming back — we have a new boardwalk, and money has been pouring into Long Beach,” Weinberg said. “After the storm, the condos and co-ops were a little bit stronger — when you buy in a co-op, the maintenance usually includes flood insurance. But I think now it’s equal. I see a lot of people looking to invest in Long Beach — they’re looking to flip Sandy-damaged homes, or buy a multi-family and rent it out. They see the opportunity here; they see that things are coming back.”

Joyce Coletti, of Douglas Elliman Real Estate, on West Park Avenue, said that homes are moving — if they’re priced correctly. Since Jan. 1, Coletti said, her office has closed on 35 homes in Long Beach, ranging from a brand new, $1.35 million home on Reynolds Channel to a $1.2 million oceanfront home in the West End, and including five homes in the $500,000 price range, three in the $400,000 range and seven in the $300,000 range, a mix of single- and two-family houses. The office has also closed on 42 condos and co-ops in the city.

“I think prices are right back to pre-Sandy,” said Alex Rubin, a sales associate at Douglas Elliman. “It’s improving because prices are a little down, and the interest rate is still low and this is our selling season — people want to be in by the summer. We’re getting a lot of different people from Manhattan and Brooklyn. The average [home] is priced at $450,000 or so, and we could show a $300,000 bungalow in the morning and a $3 million oceanfront in the afternoon.”

Weinberg and her husband, Dennis, who is also in real estate, said that the average price of a home in the West End ranges from $300,000 to $400,000 range — a three-bedroom, two-bath home with a basement and garage on Florida Street is priced at $479,000. Homes on the beach side are pricier, they said, while a home in the Canals along the water often starts at $400,000.

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