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Oceanfront Home Sales Rate Increasing

History is repeating itself again. The recent uptick in the oceanfront sales, contracts and offers mimics what we have seen after other recent beach replenishments. Buyers see the wide beach and feel comfortable making a major investment here in Sandbridge.

The good news for the entire Sandbridge market is the fact that typically local real estate cycles start or end with Oceanfront property. We are already seeing increased sales on the 2nd row (what we call Semi-Oceanfront).

We’re seeing investors buy second and third properties. Other buyers are in the “we just discovered Sandbridge” camp. They explain how Sandbridge is two or three hours closer to home than the Outer Banks. ¬†Financial buyers have realized that Sandbridge oceanfront land prices are much lower the other two oceanside communities of Virginia Beach.

It is a good time to buy, as prices haven’t reacted yet to the recent activity. It is also a good time to sell as inventory is low and a higher list price may be appropriate.