Real estate ventures are sometimes risky but can be just as rewarding. In a beachside city like Brigantine, rapidly growing since 2020, one has to wonder what makes Brigantine, NJ real estate such a hotspot for buyers looking to own a piece of the Jersey shore.
The city of Brigantine, NJ, has become popular among real estate investors thanks to its growing population, the investment of the city in its location through infrastructure projects, and increased price of homes in the area.
In this article, we look at what factors award Brigantine, New Jersey the title of hotspot for real estate agents, as well as the current market trends for the city.
What Makes Brigantine, New Jersey a Hotspot for Real Estate?
The following are examples of what determines favorable conditions for the real estate business:
- Growing Population
- Infrastructure Projects
- Price Movement
Let’s take a closer look at how Brigantine, New Jersey is meeting these conditions.
The year-round population of Brigantine, according to ShoreHomes.om, is about 9,000 people. However, it is a popular destination for vacation homes, with the summer population at 30,000.
This means that while the revenue for local businesses can increase seasonally, the lack of crowds at beaches for the non-summer months and the quiet life Brigantine offers has a population count that is rising.
Real estate hotspots are defined by growing populations because crowded, developed locations fetch a higher price than those that are not developed yet. When people begin noticing that a nice property near the ocean like those in Brigantine are not overly populated, they become eager to stake their claim on the spot.
One of the infrastructure projects featured in 2020 for Brigantine was the Atlantic City/Brigantine Community Reliability Project. This promises to modernize the energy infrastructure which links Brigantine and Atlantic City.
Construction on a new substation and rebuilding transition lines are two examples of the community’s commitment to bettering the area. Known as infrastructure projects, these types of undertakings by Brigantine’s authorities encourage people to move to the area.
It not only proves that Brigantine cares about its residents enough to improve their locale, but those very improvements can provide jobs for new arrivals. These things contribute to making the city a real estate hotspot.
According to the current data, Brigantine, NJ has sold at a median price of $524,995 since July, 2022. The prices of homes on the Brigantine Market have moved up by $5,000,00 in one year’s time!
Price movement like this is an indicator that, if the price of homes can move up so quickly recently, they are likely to continue going up in the future, contributing to the fact that Brigantine is a real estate hotspot. Information like this allows real estate agents to make an educated, careful guess on their investments in the area.
What are the current market trends in Brigantine, New Jersey?
Real estate hotspots are determined, oftentimes, by factors like the number of homes sold in the area, or the median price per square footage in the homes. Below is a table listing the market trends in Brigantine according to information gathered by the U.S. Census Bureau.
|Median Days on Market||52|
|Median Sales Price||$549,500|
|Number of Homes Sold||230 in 6 months|
|Median Price per Square Foot||$333|
|Median Year Built||1980|
|Median Rent per Month||$1,344|
In summary, it is the amount of population growth and factors like price upticks and infrastructure projects that allow real estate agents to flock to Brigantine, New Jersey. Real estate investors are able to accurately determine how profitable an investment in the city can be, making Brigantine a real estate hotspot!