Inventory Levels, Not Coronavirus, Prove a Challenge to the Long Beach Island Real Estate Market
Inventory Remains a Challenge in the LBI Real Estate Market 
Inventory Remains a Challenge in the LBI Real Estate Market
Long Beach Island Real Estate and the Number of Homes for Sale
While the real estate news today is almost non-stop reporting on the coronavirus, there is an even greater difficulty facing buyers on Long Beach Island. Inventory Remains a Challenge in the LBI Real Estate Market. The stock market has taken a hard hit, and there is great fear in all markets globally; however, it will pass. I am confident that we are in a recession, but that too shall give. What should concern buyers in the LBI real estate market are the number of homes for sale (or lack thereof) and the impact coronavirus will have on current and future inventory levels.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Inventory Remains a Challenge in the LBI Real Estate Market
Below is a chart of the number of new listings that have come on the Long Beach Island real estate market each month and the number of homes for sale over the past five years. The chart looks at only January and February so we can compare 2020 to the prior year’s performances.
| Month | New Listings | Active Listings |
| Jan-15 | 152 | 802 |
| Feb-15 | 103 | 847 |
| Month | New Listings | Active Listings |
| Jan-16 | 126 | 781 |
| Feb-16 | 144 | 846 |
| Month | New Listings | Active Listings |
| Jan-17 | 164 | 743 |
| Feb-17 | 104 | 761 |
| Month | New Listings | Active Listings |
| Jan-18 | 116 | 653 |
| Feb-18 | 143 | 719 |
| Month | New Listings | Active Listings |
| Jan-19 | 133 | 688 |
| Feb-19 | 152 | 763 |
| Month | New Listings | Active Listings |
| Jan-20 | 104 | 581 |
| Feb-20 | 125 | 595 |
As you can see, the number of homes for sale is far less than we have seen in the past five years, and while February 2020 saw an increase in the number of new listings, this is still a much lower number than in previous years. Likely, COVID-19 will only further this trend as homeowners are more reluctant to have strangers in their homes during this era of social distancing.
Buying in the Long Beach Island Real Estate Market
Buying a home in the Long Beach Island real estate market is all about timing. There are “better” and “worse” times of the year in which to complete an LBI real estate transaction, and with inventory levels being low, buyers have to take care to exercise patience when searching for a home. There are opportunities in the market, of course, and by understanding what creates value in the LBI real estate market, a buyer can position themselves very well. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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