Nathan Colmer | The Van Dyk Group
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View 2015 sales transactions on Long Beach Island New Jersey and LBI NJ real estate information provided by Nathan Colmer of The Van Dyk Group LBI
The final month of 2015 showed some interesting activity in the LBI real estate market. Sales were as follows:
Single Family Homes
45 Sold
Average Price: $1,081,239
Average Days on Market: 173
Average Difference Between Listing Price and Sales Price: 93.89%
Condominiums
5 Sold
Average Price: $432,200
Days on Market: 116
Average Difference Between Listing Price and Sales Price: 93.42%
Multi Family Homes
1 Sold
December showed a significant improvement int he average price of a single family home price which is what we were expecting looking over the sales data. Overall 2015 was a very strong year in the LBI real estate market with significantly more homes having be sold when compared to 2014. The average price of a single family home was about $50,000 higher than we saw in 2014 and there were almost 50 more closed transactions! The LBI real estate market seems to be doing very well and 2016 looks to continue that trend.
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The November market showed strong activity. Sales were as follows:
Single Family Homes
44 Sold
Average Price: $872,901
Average Days on Market: 138
Average Difference Between Listing Price and Sales Price: 94.65%
Condominiums
6 Sold
Average Price: $448,417
Days on Market: 207
Average Difference Between Listing Price and Sales Price: 96.1%
Multi Family Homes
2 Sold
November showed interesting activity in the LBI real estate market. While overall activity and the number of homes sold were very high, the average price of a single family home was one of the lowest we have seen in several months. A closer look at the sold homes points to this having more to do with the style of home sold rather than any kind of fluctuation in market pricing but it will be an interesting dynamic to monitor. The condo market was substantially higher that we have seen in recent months which also points to buyers looking at less expensive homes in the LBI real estate market. You can view all homes sold in the past month by clicking here.
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October sales in the LBI real estate market were as follows:
Single Family Homes
43 Sold
Average Price: $1,002,012
Average Days on Market: 146
Average Difference Between Listing Price and Sales Price: 94.42%
Condominiums
2 Sold
Multi Family Homes
0 Sold
October continued the high amount of activity we have been witnessing in the LBI real estate market. Overall there were more homes sold than we have been seeing in recent quarters and the average price was steady. There were no multi family homes sold however taken as a whole October was a strong month in the LBI real estate market. You can view all homes sold in the past month by clicking here.
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The fall market started off with a flurry of activity in the LBI real estate market. Sales were as follows:
Single Family Homes
38 Sold
Average Price: $1,136,474
Average Days on Market: 150
Average Difference Between Listing Price and Sales Price: 93.8%
Condominiums
6 Sold
Average Price: $432,650
Days on Market: 203
Average Difference Between Listing Price and Sales Price: 96.75%
Multi Family Homes
1 Sold
Average Price: $900,00
Days on Market: 12
Average Difference Between Listing Price and Sales Price: 96.88%
Looking at the market as a whole, there were 46 closed transactions in September which is exactly the same as September 2014. The average price of a single family home was substantially higher in 2015 when compared to September 2014 ($1,136,474 compared to $805,396). The fall market is off to a strong start and activity seems to be holding steady with over 110 homes currently under contract. You can view all homes sold in the past month by clicking here.
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The final month of summer on Long Beach Island showed normal real estate activity.. Sales were as follows:
Single Family Homes
19 Sold
Average Price: $1,251,474
Average Days on Market: 159
Average Difference Between Listing Price and Sales Price: 96.5%
Condominiums
6 Sold
Average Price: $315,250
Days on Market: 106
Average Difference Between Listing Price and Sales Price: 93.8%
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July 2015 showed steady sales and a continued interest from buyers in the LBI real estate market. Sales were as follows:
Single Family Homes
31 Sold
Average Price: $1,020,016
Average Days on Market: 182
Average Price Per Square Foot: $484.80
Condominiums
5 Sold
Average Price: $385,000
Days on Market: 76
Average Price Per Square Foot: $415.66
Multi Family Homes (Duplexes)
2 Sold
Days on Market: 448
Average Price Per Square Foot: $332.85
A year over year comparison shows stability in the LBI real estate market. There were two less closed single family homes in July 2015 compared to July 2015 however the average price of a single family home was almost $100,000 higher. Condominiums and duplexes showed a slight improvement in sales both in the number sold and the average price so overall there was improvement across the board in the LBI real estate market. This is further demonstrated in the roughly 90 properties currently under contract which is very high for this time of year. Overall things are shaping up for a strong fall in the real estate market on Long Beach Island. You can view all homes sold in the past month by clicking here.
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The summer season on LBI started off with a great deal of activity in the LBI real estate market. Sales were as follows:
Single Family Homes
51 Sold
Average Price: $948,539
Average Days on Market: 158
Average Price Per Square Foot: $494.60
Condominiums
9 Sold
Average Price: $550,943
Days on Market: 112
Average Price Per Square Foot: $529.14
June started off the summer on a high note! This is not entirely unexpected as buyers work to close on a home before the start of the summer season on LBI which is generally accepted to be late June/early July. The overall number of homes sold was very high and the average price was higher as well! We can expect to see a slight slowdown in the market as summer can be a difficult time to show and sell houses thanks in part to the timing of the year and in part the summer rentals in place. You can view all homes sold in the past month by clicking here.
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The LBI real estate market showed a high level of sales volume with a total of 58 closed transactions in May! Sales were as follows:
Single Family Homes
49 Sold
Average Price: $970,585
Average Days on Market: 170
Average Price Per Square Foot: $463.87
Condominiums
7 Sold
Average Price: $413,571
Days on Market: 215
Average Price Per Square Foot: $445.46
Multi Family Homes (Duplexes)
2 Sold
Days on Market: 1257
Average Price Per Square Foot: $377.81
The LBI real estate market showed some of the highest activity we have seen in several years. While part of this activity has to do with the timing of the market as buyers look to complete their transaction prior to the start of Summer, to see this level of activity is encouraging. With a total of 58 closed transactions in May, it goes without saying that buyer activity is strong. A look back to May 2014 shows some overall improvement in the market. In May 2014 there were 55 closed transactions and the average price of a single family home was slightly higher (about $10,000). While there are about 80 homes "under contract" on Long Beach Island we should start to see a slight decrease in sales activity as we approach the summer months of June and July. Even with an anticipated seasonal decline, the outlook of the LBI real estate market is positive and signs point to a continued improvement. You can view all homes sold in the past month by clicking here.
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The LBI real estate market showed a high level of sales volume with a total of 43 closed transactions in April. Sales were as follows:
Single Family Homes
37 Sold
Average Price: $993,799
Average Days on Market: 197
Average Price Per Square Foot: $484.34
Condominiums
3 Sold
Average Price: $474,167
Days on Market: 260
Average Price Per Square Foot: $392.92
Multi Family Homes (Duplexes)
3 Sold
Days on Market: 182
Average Price Per Square Foot: $308.31
April 2015 was a positive month for the LBI real estate market. A year over year comparison of April 2014 to April 2015 shows a much improved market. There were five more closed transactions in 2015 with the average single family home price being a little over $100,000 higher! As summer approaches, buyers are anxious to close on a real estate transaction and be able to enjoy a new home for the season! The overall market is continuing to show strong activity with roughly 100 homes currently under contract! You can view all homes sold in the past month by clicking here.
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March 2015 LBI Real Estate Sales and Transactions on Long Beach Island NJ
The LBI real estate market again returned to a high level of sales volume with a total of 36 closed transactions in March. Sales were as follows:
Single Family Homes
30 Sold
Average Price: $905,320
Average Days on Market: 201
Average Price Per Square Foot: $465.84
Condominiums
4 Sold
Average Price: $334,374
Days on Market: 190
Average Price Per Square Foot: $424.85
Multi Family Homes (Duplexes)
2 Sold
Days on Market: 555
Average Price Per Square Foot: $633.64
Overall the sales activity in the LBI real estate market was very positive. After an expected slowing in February, market activity exploded as buyers worked to close on a property for the summer season. This is evident with more than double the number of single family homes having sold in March as compared to February. A year over year comparison of March 2014 to March 2015 showed similar statistics. While the average sales price of a single family home was about $60,000 less in 2015, there were more closed transactions. With roughly 100 properties under contract, the spring market is showing very positive signs! You can view all homes sold in the past month by clicking here.
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February 2015 LBI Real Estate Sales and Transactions on Long Beach Island NJ
While the overall number of homes sold in February was lower, the average price of a single family home was substantially higher. Sales are as follows:
Single Family Homes
13 Sold
Average Price: $1,461,846
Average Days on Market: 246
Average Price Per Square Foot: $541.13
Condominiums
2 Sold
Price: $452,500
Days on Market: 204
Average Price Per Square Foot: $387.50
Multi Family Homes (Duplexes)
0 Sold
It is common to see slower activity in February as it is the shortest month of the year. That said, the number of homes sold in February 2015 was lower even in a year over year comparison with February 2014. Looking back to February 2014, a total of 22 single family homes sold with an average price of just over $1,000,000. While it is disappointing to see a lower number of homes sold in 2015, much of this can be blamed on the weather. Storms have a surprisingly meaningful impact on the LBI real estate market as they can delay potential buyers from visiting Long Beach Island thus lowering market activity. The real estate market on LBI has been experiencing a period of growth and this is reflected in the higher average sales price of a single family home. Additionally, there approximately 80 homes "under contract" in the LBI real estate market so we are still seeing a high level of buyer activity! You can view all homes sold in the past month by clicking here.
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January 2015 LBI Real Estate Sales and Transactions on Long Beach Island NJ
January started 2015 on a very positive note for the LBI real estate market! Sales are as follows:
Single Family Homes
37 Sold
Average Price: $1,067,165
Average Days on Market: 155
Condominiums
3 Sold
Price: $500,833
Days on Market: 174
Multi Family Homes (Duplexes)
8 Sold
Average Price: $606,562
Average Days on Market: 141
January continued to show strong activity for sales in the LBI real estate market. Compared to December, more than twice as many homes sold in January 2015. This alone is a very encouraging sign and supports the overall health of the real estate market on Long Beach Island. Buyer activity comprised a mix of investment properties and vacation homes intended for personal use. Single family homes continued to represent the most active area of the LBI real estate market with sales of duplexes being slightly higher than normal. With a total of 48 closed sales, January is ranked among the strongest months for home sales we have seen in several years. . You can view all homes sold in the past month by clicking here.