Real Estate Spotlight: Harvey Cedars, New Jersey
If you haven’t yet explored all that the New Jersey coast has to offer, take a look at the real estate in Harvey Cedars – a beach city that’s modest in size but great in spirit. One of New Jersey’s most prized communities, Harvey Cedars expands little more than 1 square mile on Long Beach Island, yet it boasts some of the most sought-after luxury homes in all of Ocean County. The permanent population rests in the neighborhood of 330, but the summer brings approximately 2,000 more seasonal residents. With a booming summer community and gorgeous aesthetics, Harvey Cedars is a one-stop vacation destination.
The island’s housing market has been steadily improving. For the period ending on June 26th, most zip codes in Ocean County saw a significant week-over-week improvement in list prices. The current median list price for homes in Harvey Cedars is $1,120,000, a 6.7% increase since last year and a .8% increase since last week. The median amount that sellers are actually receiving for their property is $950,000, a stunning 22% increase since last year. The borough’s serene character and coastal setting make its vacation homes hot commodities. Indeed, Harvey Cedars’ rank as the seventh smallest city in the state increases demand its real estate. With such a limited supply of personal palaces, interested buyers should invest while the market is on the upswing.
While the town’s physical area is humble, the property within the city limits has been assessed at over $1.3 billion. In the last year, all home sales returned a profit and 80% of all unsold homes are reportedly increasing in value, which is a 54% increase since last year. These promising numbers undoubtedly contribute to the mere four-month average that Harvey Cedars homes stay on the market.
While the property values and dollar amounts of these vacation homes are impressive in themselves, the island community has a great deal more to offer. Residents enjoy a relaxing lifestyle with a variety of enterprises available to engage in. Of the many city camps, there is sure to be at least one that the kids will enjoy. Whether it’s the Martyn Rushmore Soccer Camp, the Van Grow Art Camp or the various baseball and lacrosse programs, family-friendly activities and community sponsored “Kids’ Nights” are popular on the island.
Founded in 1894 and establishing early success as a fishing community, Harvey Cedars has always promoted water and beach activities. Numerous lifeguard training courses are available indoors and out, and there is even a tournament for trainees to compete against one another each summer. Adults can energize with yoga on the beach or compete in golf and fishing tournaments. Concerts in the city park and craft sessions on the beach are two of the most popular pastimes for vacationers. The city also holds more whimsical events such as crab racing and an annual “Anything Floats” race in which participants can race anything that floats in water.
Since Harvey Cedars real estate values are steadily rising and its heavenly houses are only increasing in demand, what better time could there be to lock down your dream vacation home than now?