Active Listings in the LBI Real Estate Market From January 2016 through June 2016
Long Beach Island Real Estate
The real estate market on Long Beach Island has certainly been active, in spite of trends developing which point to higher end home sales being somewhat stagnant. 2016 got off to a slow start however as the year progressed, the higher and market has improved. That said, there are more active listings on the market in June then when the year began. A study of active Long Beach Island real estate listings is an essential first step before making a decision to invest in the Long Beach Island real estate market.
Active Long Beach Island Real Estate Listings
January 2016 started off with approximately $803 million worth of active Long Beach Island real estate listings spread across 758 different properties. By contrast, June 2016 saw approximately $904 million worth of active listings spread across 845 listings. This is a significant increase in not only the number of homes on the market but also the amount of real estate for sale on Long Beach Island. May of 2016, which was the last full month of sales data at the time of my writing this article, showed just over $50 million worth of sales volume spread across 58 closed transaction. May is typically a very busy month for the LBI real estate market as buyers rush to get into their homes prior to the beginning of the summer season but even taking seasonal market activity into account, May showed a trend towards an improving real estate market on LBI.
Investing in the Long Beach Island Real Estate Market
The data shows that there are a significant number of homes for sale in the LBI real estate market. In fairness, a number of these listings are redundant. In other words, a condo that is listed as both a condominium and a single-family home will show up as being two separate listings. This can skew the data somewhat, however not enough to change the trends that there are more homes for sale in June that there were in January. It will be interesting to see how the market continues to shape up and if the increases in buyer activity we have witnessed will maintain their present course. If that is the case, we should be shaping up for a very strong real estate market in 2016 on Long Beach Island. For more information about active Long Beach Island real estate listings for these developing trends, contact me and I will be happy to answer any questions you have.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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