Four boat slips. A hot tub room. Ocean frontage.
These are beach houses like you’ve probably never seen before.
Take a peek inside these multi-million dollar homes that are for sale now along the Jersey Shore.
In today’s robust residential real estate market, the high-priced sector in New Jersey’s beach towns is enjoying the same success as the average-priced market — to a point.
“In the $2 million to $5 million range they’re selling in a matter of a week or so,” said Brian Flynn, of Berkshire Hathaway Home Services in Sea Girt.
But sales aren’t as quick for homes in or near the double-digit millions.
“The lower the price of the property there are more qualified buyers,” said Bill Leahy, of Long & Foster Real Estate in Avalon. “The higher the price of the property, the less buyers there are.”
These are also second homes, Leahy said.
“If you were selling a first home for the same amount of money, there would be more people who would buy it because of their immediate personal needs,” he said. “When you’re talking about this type of property, it’s just a matter of waiting for the right person to come along.”
In Cape May, 11 homes that were more than $5 million have sold or gone under contract since the beginning of the year. And there are about 20 homes in that price range currently for sale.
“In a normal, balanced market we would only see about half of those … sales and about double the inventory on the market,” said Jeff Quintin, chief executive officer of the Quintin Group in Ocean City. “Currently the market is strong and the quality homes are limited.”
The buyers, agents say, are often from the cities and North Jersey or the Philadelphia suburbs or people who were priced out of the Hamptons. But because the market is so strong, agents are also seeing a lot of local buyers who are upgrading to a better view, bigger home or getting closer to the ocean or bay.
Carolyn Vallerini, of Weichert Realtors in Point Pleasant, just sold a three-story home in Belmar to buyers who lived two blocks away and wanted a water view.
“They’ll move 50 feet just for the water view,” she said. “They know they can get what they want, if not more, for their house, so why not move to a bigger house on the water? Maybe three years ago, they didn’t have the ability to do that.”
Like the average residential market, the sales in the high-end Shore market are being spurred by the same factors.
“The drive has been, I think, low interest rates, a banner stock market and an influx of people moving out of the cities that are pushing people from the suburbs down to places like LBI — and that people are working remotely,” said Joy Luedtke of Joy Luedtke Real Estate, LLC on Long Beach Island.
Here are five luxury homes that are for sale now at the Jersey Shore:
903 Ocean Avenue, Sea Girt is listed for $11.995 million
The 7 bedroom, 7.5 bath home was built in 2000 and has direct beach access with 150 feet of beach frontage.
“Every room in the house has a view of the ocean,” said Brian Flynn of Berkshire Hathaway, the listing agent. “And it has an enormous backyard that is technically an additional lot.”
4816 5th Avenue, Avalon is listed for $11.5 million
This 9 bedroom, 10 full and 3 half bath home has 219 feet of bay frontage, a three stop elevator and is being sold furnished.
“It has one of the largest bayfront lots on the island,” said Bill Leahy of Long & Foster in Avalon. It’s also on a cul-de-sac and is at the end of the lagoon, giving it unobstructed views. Plus, Leahy said, “it has everything inside you could ask for, and more.”
8109 Bayshore Drive Margate is listed for $7.9 million
This 7 bedroom, 6 full and 2 half bath home has 324 feet of bay frontage, four boat slips and floor to ceiling windows in 8,200 square feet.
“The sunset views are really just 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 has a master suite overlooking the ocean, a chef’s kitchen and Brazilian walnut floors.
“It’s unique in its ocean front location and views and condition,” said Jeff Quintin, chief executive officer of The Quintin Group. “Also the size is pretty awesome and the layout for a large family.”
805 Long Point Lane, Point Pleasant is listed for $5.5 million
The 6 bedroom, 8 bathroom home has four fireplaces, indoor and outdoor hot tubs, marble floors and walls and is waterfront on the Manasquan River.
“It has every kind of room in it imaginable — a theater room, a billiard room, a bar room, a workout room,” said Carolyn Vallerini, of Weichert Realtors Point Pleasant.
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Allison Pries may be reached at [email protected].
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