Four boat slides. A whirlpool bathroom. Facade on the ocean.
These are beach houses like you’ve probably never seen before.
Take a peek inside these multi-million dollar homes that are currently for sale along the Jersey Shore.
In today’s strong residential real estate market, the high-priced sector of New Jersey’s beach towns is enjoying the same success as the mid-priced market – up to a point.
“In the $ 2-5 million range that they sell in about a week,” said Brian Flynn, of Berkshire Hathaway Home Services at Sea Girt.
But sales aren’t as fast for homes in or near the double-digit millions.
“The lower the price of the property, the more qualified buyers there are,” said Bill Leahy of Long & Foster Real Estate in Avalon. “The higher the price of the property, the fewer buyers there are.”
They are also second homes, Leahy said.
“If you were to sell a first home for the same amount, there would be more people buying it because of their immediate personal needs,” he said. “When you talk about this type of property, you just have to wait for the right person to come.”
In Cape May, 11 homes over $ 5 million have been sold or contracted since the start of the year. And there are about 20 homes in this price range currently for sale.
“In a normal, balanced market, we would only see about half of these … sales and about double the inventory in the market,” said Jeff Quintin, general manager of Quintin Group in Ocean City. “Currently, the market is strong and the quality of homes is limited.”
Buyers, agents say, are often from towns and northern Jersey or suburban Philadelphia or people priced out of the Hamptons. But because the market is so strong, agents also see many local buyers moving to a better view, a larger house, or closer to the ocean or bay.
Carolyn Vallerini, of Weichert Realtors in Point Pleasant, just sold a three-story house in Belmar to buyers who lived two blocks away and wanted water views.
“They will move 50 feet just for the view of the water,” she said. “They know they can get what they want, if not more, for their home, so why not move to a bigger house on the waterfront? Maybe three years ago they didn’t have the capacity to do it.
Similar to the average residential market, sales in the high-end Shore market are driven by the same factors.
“The driving force was, I think, low interest rates, a banner stock market, and an influx of people leaving cities that are pushing people from the suburbs to places like LBI – and people working remotely,” said Joy Luedtke of Joy Luedtke Real Estate, LLC on Long Beach Island.
Here are five luxury homes currently for sale on the Jersey Shore:
903 ocean avenue, Sea Girt is listed for $ 11.995 million
The 7 bedroom, 7.5 bathroom home was built in 2000 and has direct beach access with 150 feet of waterfront.
“Every room in the house has an ocean view,” said Brian Flynn of Berkshire Hathaway, the listing agent. “And it has a huge backyard which is technically an additional lot.”
4816, 5th Avenue, Avalon is listed for $ 11.5 million
This 9 bedroom, 10 full bath, 3 half bath home has 219 feet of bay frontage, a three-stop elevator and is sold furnished.
“It has one of the largest bay lots on the island,” said Bill Leahy of Long & Foster in Avalon. It is also on a cul-de-sac and sits at the end of the lagoon, giving it stunning views. Plus, Leahy said, “it’s got everything you could ask for, and more.”
8109 Bayshore Drive Margate is listed for $ 7.9 million
This 7 bedroom, 6 full bath, 2 half bath home has 324 feet of bay frontage, four boat slides, and floor-to-ceiling windows over 8,200 square feet.
“The sunsets are truly spectacular from this house,” said Arianne Green, of Berkshire Hathaway Home Services Fox & Roach in Margate.
1401 beach avenue, Cape May is listed for $ 6.59 million
This 8-bedroom, 6-bathroom home features an ocean-facing master suite, a chef’s kitchen, and Brazilian walnut floors.
“It is unique in its ocean front location, views and condition,” said Jeff Quintin, President and CEO of The Quintin Group. “Plus, the size is quite impressive and the layout for a large family.”
805 Long Point Way, Point Pleasant is listed for $ 5.5 million
The 6-bedroom, 8-bathroom home features four fireplaces, indoor and outdoor hot tubs, marble floors and walls, and sits right on the Manasquan River.
“It’s got all kinds of rooms imaginable – a theater hall, a billiard room, a bar room, a workout room,” said Carolyn Vallerini, of Weichert Realtors Point Pleasant.
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Allison Pries can be reached at [email protected].
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