When Will Inventory Improve in the Long Beach Island NJ Real Estate Market
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Are There Going to Be More Homes For Sale in the LBI Real Estate Market 
Are There Going to Be More Homes For Sale in the LBI Real Estate Market 
Are There Going to Be More Homes For Sale in the LBI Real Estate Market
Long Beach Island Real Estate
Since COVID-19, the number of homes for sale in the LBI real estate market has been much lower than average. In a pre-COVID market, there were around 500-600 homes for sale at any point. As the demand for homes in the LBI real estate market soared, the number of homes for sale on Long Beach Island dropped to about 50-75 at one point! While inventory has since improved, many buyers looking to purchase a home on Long Beach Island are left to wonder if there will be more homes for sale in the LBI real estate market?
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
Are There Going to Be More Homes For Sale in the LBI Real Estate Market
While inventory has improved, there is still not enough supply to go around. Nobody knows for sure what the future of the LBI real estate market will be, but all signs point to the current conditions being maintained for the foreseeable future. New homes come on the market all the time, but they are often absorbed almost as quickly as they come on. The market still favors sellers but has moved to a bit more of a balanced market. We usually see around 10-20 new listings enter the market and about 12-25 pending sales in a given week. This still leads to a net loss of homes for sale on Long Beach Island, but there are weeks where we see a surge of new homes that helps to improve the numbers. Most recently, the fall market (which is always a busy time for new listings in the LBI real estate market) created such a surge. In mid/late September, there were about 225 homes for sale in the LBI real estate market. Now, as buyer activity has kicked in, that number has fallen to about 150-175. That seems to be the new norm for available homes, at least for the time being.
When Will Inventory Improve in the Long Beach Island NJ Real Estate Market
We will likely see more inventory come up in the winter months. In almost every year, February is one of the strongest months for listing coming on the market, and there is no reason to expect this year to be any different. When looking to buy a home in the LBI real estate market, it is impossible to time the top or bottom of the market. The best thing to do is focus on what creates value in the LBI real estate market and, if the timing is correct and you find the right house, enter into a transaction. If not, it is better to wait! 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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