""There are families who come to Spring Lake and kind of never leave... But honestly, it's hard for their kids to buy into town, because you're easily looking at $2 million as an entry price to get in.""
""Houses that didn't sell before this one sold for $25 million, all of a sudden started selling. And then people started putting their houses on for stupid amounts of money.""
The sale of a $25 million property in Spring Lake, NJ, has significantly altered the local real estate market, attracting a new, upscale clientele and raising property values. Long-time residents and families are struggling to buy homes, as prices have soared to a minimum of $2 million, hindering generational ownership in the community. Real estate agents note an increase in demand and rapid sales in the area following the high-profile sale, indicating a shift towards a more exclusive market that appeals to affluent buyers seeking beach properties.
Read at SFGATE
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