Located near the north end of Long Beach Island, between Manahawkin Bay and the Atlantic Ocean, Harvey Cedars is among the most coveted of the barrier island's six communities. A model of exclusivity and serene beachside living, this quaint, independent borough stands out thanks to its blend of small-town charm and upscale amenities. Although its population increases more than twentyfold amid summer, its compact footprint and small, unique collection of shops and eateries help Harvey Cedars retain a significant degree of privacy.
The location
Harvey Cedars' unique position, with no direct link to mainland New Jersey except via the access provided via East Bay Avenue six miles away in Ship Bottom, contributes to its quiet character. This seclusion, combined with easy access to both the bay and ocean, elevates its appeal among those seeking a serene coastal lifestyle without forsaking convenience and luxury. With assessments exceeding $1.28 billion in 2019, the borough's property values underscore its status as a premier location for high-end real estate investment.
The neighborhood
Harvey Cedars' waterfront accessibility is unparalleled. Regardless of where one's property lies within the borough, the promise of public beach access guarantees that the stunning stretches of sand and sea are never more than a short walk away. This accessibility, combined with the borough's small yet popular commercial and recreational areas, crafts an idyllic setting for both seasonal and permanent residents.
Stretching along Long Beach Boulevard for approximately 2 miles between William Street and 86th Street, the Harvey Cedars boasts several community comforts that attract those seeking a beachfront lifestyle with its most touristy aspects (no hotels here). At its south end is the Sunset Park recreation area, which includes a sports field, tennis, basketball and pickleball courts, and a playground overlooking Manahawkin Bay. Adjacent to the park is the Harvey Cedars Marina.
Toward its northern boundary with Loveladies, a few shops and restaurants reinforce the bucolic seaside vibes. Despite its permanent population of around 400, swelling to approximately 12,000 during the popular summer months, Harvey Cedars never loses its charm.
Stretching along Long Beach Boulevard for approximately 2 miles between William Street and 86th Street, the Harvey Cedars boasts several community comforts that attract those seeking a beachfront lifestyle with its most touristy aspects (no hotels here). At its south end is the Sunset Park recreation area, which includes a sports field, tennis, basketball and pickleball courts, and a playground overlooking Manahawkin Bay. Adjacent to the park is the Harvey Cedars Marina.
Toward its northern boundary with Loveladies, a few shops and restaurants reinforce the bucolic seaside vibes. Despite its permanent population of around 400, swelling to approximately 12,000 during the popular summer months, Harvey Cedars never loses its charm.
The homes
If there is one word that could describe the homes in Harvey Cedars, it would be waterfront. Whether heading east to the Atlantic Ocean or west towards Manahawkin Bay, strolling the frontage along the community's namesake marina or one of its handful of inlets and canals, no home is more than 750 feet from the water. Like the rest of Long Beach Island, Harvey Cedars is an immensely popular spot for second homeowners.
Though a small contingent arrives seeking a primary residence—and there are few better places to have one—the housing market here is characterized by its exclusivity, tremendous value, and a predominance of seasonal houses. Many bay or oceanfront properties command prices of $2 million or more, reflecting the borough's role as a beloved summer haven.
This price point is indicative of the borough's luxury market, where the demand for high-end homes meets the desire for a tranquil, beachside lifestyle. The majority of buyers and investors are looking for vacation homes and investment properties.
There are development opportunities for those interested in establishing a property from the ground up. Though land is scarce, almost half of the homes in Harvey Cedars were constructed between 1970 and 2000, an architectural time period that lends itself to redevelopment. Approximately 20% of the borough's real estate is less than ten years old.
Though a small contingent arrives seeking a primary residence—and there are few better places to have one—the housing market here is characterized by its exclusivity, tremendous value, and a predominance of seasonal houses. Many bay or oceanfront properties command prices of $2 million or more, reflecting the borough's role as a beloved summer haven.
This price point is indicative of the borough's luxury market, where the demand for high-end homes meets the desire for a tranquil, beachside lifestyle. The majority of buyers and investors are looking for vacation homes and investment properties.
There are development opportunities for those interested in establishing a property from the ground up. Though land is scarce, almost half of the homes in Harvey Cedars were constructed between 1970 and 2000, an architectural time period that lends itself to redevelopment. Approximately 20% of the borough's real estate is less than ten years old.
Market prices and trends
Real estate activity often spikes towards the end of the year, with October and November among the most active months for buyers and sellers. However, properties do change hands in the winter months.
In the first two months of 2024, four single-family properties sold at a median price of $2.865 million, in line with the same period in 2023 and 2022. A fifth property sold with ten weeks of fractional ownership. The median days on the market were 136.
Currently, there are seven active property listings in Harvey Cedars. One of those is 2023 construction, and another two offer excellent redevelopment or income potential, a reflection of the flexible real estate options that exist here.
In the first two months of 2024, four single-family properties sold at a median price of $2.865 million, in line with the same period in 2023 and 2022. A fifth property sold with ten weeks of fractional ownership. The median days on the market were 136.
Currently, there are seven active property listings in Harvey Cedars. One of those is 2023 construction, and another two offer excellent redevelopment or income potential, a reflection of the flexible real estate options that exist here.
Forecast for 2024
Scarcity is a family trait of the Harvey Cedars luxury marketplace, and buyers should be aware it will continue to favor sellers heading into the summer. However, there are expectations for increasing buyer opportunities as the year progresses.
Foremost, sellers who've been sitting on low mortgages and putting off listing their beach home may be unable to wait any longer. Whether it's via downsizing, moving further away from the coast, or shifting investment priorities, many of these sellers will look to sell sooner rather than later, which could result in some dealmaking on specific homes.
In addition, mortgage rates, which spiked to a 23-year high in October 2023 and began the year elevated versus the previous four years, will plateau and level out in the back half of 2024. While cash buyers can avoid the issue altogether, anyone financing, including through a jumbo loan, should find borrowing cheaper than it has been over the past 12 months.
For sellers, the bright spot remains home prices, particularly in places such as Harvey Cedars, where demand remains consistent and inventory is consistently low. While they may not rise at the levels seen over the previous few years, modest gains will continue until supply finally catches up with demand.
Foremost, sellers who've been sitting on low mortgages and putting off listing their beach home may be unable to wait any longer. Whether it's via downsizing, moving further away from the coast, or shifting investment priorities, many of these sellers will look to sell sooner rather than later, which could result in some dealmaking on specific homes.
In addition, mortgage rates, which spiked to a 23-year high in October 2023 and began the year elevated versus the previous four years, will plateau and level out in the back half of 2024. While cash buyers can avoid the issue altogether, anyone financing, including through a jumbo loan, should find borrowing cheaper than it has been over the past 12 months.
For sellers, the bright spot remains home prices, particularly in places such as Harvey Cedars, where demand remains consistent and inventory is consistently low. While they may not rise at the levels seen over the previous few years, modest gains will continue until supply finally catches up with demand.
Start your Harvey Cedars journey today
Whether buying or selling and ready to learn more about the Harvey Cedars real estate market, contact Beach House Realty today to begin your real estate journey.
*Header image courtesy of Beach House Realty
*Header image courtesy of Beach House Realty
