Long Beach Island New Jersey Real Estate | LBI NJ Real Estate | Nathan Colmer

LBI Real Estate Sales Transactions

Nathan Colmer | The Van Dyk Group

C: 609.290.4293 | O: 609.492.1511

LBI Real Estate Monthly Sales | Long Beach Island New Jersey Real Estate

Read LBI real estate monthly sales and Long Beach Island New Jersey real estate information provided by Nathan Colmer of The Van Dyk Group. LBI real estate sales are broken down on a month by month basis for single family homes, condos and duplexes on Long Beach Island.

 

2010 Sales Transactions Long Beach Island New Jersey | LBI NJ Real Estate | Nathan Colmer

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Year End 2020 LBI Real Estate Sales Transactions

2020 was a year for the books and full of surprises at every turn. The real estate market was no exception. Long Beach Island had one of the best years in history, in spite of being all but shut down for several months at the height of the pandemic. Sales were as follows:

Single Family Homes

Condominiums

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December 2020

December ended the year on a strong note with almost 90 closed transactions in the Long Beach Island real estate market. Sale transactions for November 2020 are as follows:

Single Family Homes

70 Sold

Average Price: $1,590,519

Average Percentage of Listing Price: 98.58%

Average Days on Market: 68

Condominiums

12 Sold

Average Price: $687,875

Percentage of Listing Price: 99.47%

Days on Market: 83

December once again showed slower activity than the preceding month, but I still attribute this to the time of year. Looking at a year over year comparison to December 2019, we see almost double the number of sales and the average sales price being about 25% higher. This clearly shows strength and demand in the LBI real estate market. We continue to see a much lower average days on market and far less negotiation taking place in the sale of a home. Currently, there are about 125-150 pending sales in the Long Beach Island real estate market.

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November 2020

November slowed down somewhat, but this is normal for this time of year. Sale transactions for November 2020 are as follows:

Single Family Homes

86 Sold

Average Price: $1,596,277

Average Percentage of Listing Price: 98.52%

Average Days on Market: 73

Condominiums

12 Sold

Average Price: $656,658

Percentage of Listing Price: 99.67%

Days on Market: 79

While overall activity did lessen in November, sales are still considerably higher than the same time last year. In November 2019 there were 53 closed sales compared to 98 in 2020. In 2019 the average price of a single family home was $980,000 and in 2020 it was just shy of $1,600,000. Both activity and the average price are clearly much higher than the same time last year. Inventory continues to be low and demand continues to be very high so the LBI real estate market looks to be stable for the time being. Currently, there are about 150-175 pending sales in the Long Beach Island real estate market, so activity is still very high.

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October 2020

The LBI real estate market once again had a record month with over 100 closed sales. Sale transactions for October 2020 are as follows:

Single Family Homes

99 Sold

Average Price: $1,388,145

Average Percentage of Listing Price: 98.67%

Average Days on Market: 65

Condominiums

10 Sold

Average Price: $660,160

Percentage of Listing Price: 97.93%

Days on Market: 48

We saw some exciting trends in the monthly sales this October. There were 99 closed sales, up from last month, but the average price was slightly lower. What was dramatically different was the difference between the listing price and sales price and the time the home spent on the market. The list price/sales price difference dropped to one of the lowest levels ever seen, and the days on the market dropped to just over two months. For some comparison, over the past year, the average days on the market hovers around six months! Currently, there are about 210 pending sales in the Long Beach Island real estate market, so things don't show any sign of slowing down.

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September 2020

The LBI real estate market is on fire with 106 closings in September. Sales for September 2020 are as follows:

Single Family Homes

93 Sold Average Price: $1,440,582

Average Percentage of Listing Price: 97.95%

Average Days on Market: 110

Condominiums

12 Sold Price: $642,408

Percentage of Listing Price: 99.02%

Days on Market: 47


While the total number of sales in September 2020 was lower than August 2020, a year over year comparison shows shocking differences. There were a total of 60 closed transactions in September 2019 (51 single-family homes and 9 condos) compared to 106 in September 2020. What is also very interesting is the difference between the listing price and sales price and the days on market. In 2019, the average difference between list and sales price was just over 95% whereas in 2020 it was almost 98%. In 2019 homes spent 132 days on the market and in 2020, that number dropped to 110. While 3 percentage points and 22 days may not sound like a lot, it does tell us a great deal about the behavior of buyers in the current climate. They are willing to pay more and do so faster. Competition is high as evidenced by the 252 homes that are currently pending in the LBI real estate market. 

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August 2020

August 2020 was a game changer. This month set a record in closed sales as the LBI real estate market continues to see unheard of levels of buyers entering into transactions. Sales for August 2020 are as follows:

Single Family Homes

Condominiums

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July 2020

The Long Beach Island real estate market is booming. This is a seller's market through and though. Sales for July are as follows:

Single Family Homes

Condominiums

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June 2020

The real estate market on Long Beach Island is on fire. Frankly, it is a level of activity that knows no recent precedent! Sales in June 2020 were as follows:

Single Family Homes

Condominiums

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May 2020

May showed some interesting sales statistics as the world, and the LBI real estate market, began to see some reactive data from COVID-19. Sales in May 2020 were as follows:

Single Family Homes

Condominiums

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April 2020

As the world continues to understand the full impact of COVID-19 or coronavirus, we are starting to see some normalcy return to Long Beach Island and the LBI real estate market. Plans are in place to open LBI for Summer 2020 and the market seems to be responding in kind. Sales in April were as follows:

Single Family Homes

Condominiums

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March 2020

Coronavirus! This unfortunate and tragic pandemic has dominated the news and the LBI real estate market is no exception. The impact of the virus is not yet apparent but it certainly has had an influence on buyer and seller behavior. Sales in March were as follows:

Single Family Homes

Condominiums

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February 2020

February 2020 saw an explosion of sales when compared to February 2019. Sales were as follows:

Single Family Homes

Condominiums

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January 2020

New year new market! 2020 is an election year which can always make for some interesting market activity. Let's see how the year got started.. Sales were as follows:

Single Family Homes

Condominiums

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Long Beach Island New Jersey Real Estate | LBI NJ Real Estate | Nathan Colmer
Long Beach Island New Jersey Real Estate | LBI NJ Real Estate | Nathan Colmer
Long Beach Island New Jersey Real Estate | LBI NJ Real Estate | Nathan Colmer
Long Beach Island New Jersey Real Estate | LBI NJ Real Estate | Nathan Colmer

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Your LBI Beach House is a Phone Call Away! Call Nathan Colmer 609-290-4293

Nathan Colmer

609.290.4293

ncolmer@vandykgroup.com

The Van Dyk Group

12800 Long Beach Blvd

Beach Haven Terrace NJ 08008

609.492.1511