Long Beach Island Real Estate Single Family Home Sales Price During COVID
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Average LBI Real Estate Single Family Home Sales Price YTD in 2020 During Coronavirus 
Long Beach Island Real Estate Sales Prices
The LBI real estate market, like the rest of the world, has been impacted by the coronavirus. Interestingly enough, COVID-19 has made the Long Beach Island real state market explode with activity. While activity came to a halt over the winter, the spring and summer markets saw tremendous activity. A big question on both buyers and seller’s minds is, how has this impacted the LBI real estate market. To try and answer that, we will look at the Average LBI real estate Single Family Home Sales Price YTD in 2020 During Coronavirus in this article.
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
Average LBI Real Estate Single Family Home Sales Price YTD in 2020 During Coronavirus
The chart below shows the average sales price of a single-family home on Long Beach Island over the past 12 months:
| Month | Sale Price, Average |
| Oct-19 | $1,099,780 |
| Nov-19 | $1,006,513 |
| Dec-19 | $1,156,863 |
| Jan-20 | $1,187,915 |
| Feb-20 | $1,016,147 |
| Mar-20 | $925,328 |
| Apr-20 | $1,024,435 |
| May-20 | $1,000,925 |
| Jun-20 | $1,140,559 |
| Jul-20 | $1,264,390 |
| Aug-20 | $1,216,170 |
| Sep-20 | $1,376,488 |
As you can see, a great change has taken place in the LBI real estate market over the course of the past year. The data can be divided into three groups: pre-COVID sales, home sales during the height of the pandemic, and sales taking place after having processed the impact of COVID. The price of a single-family home on Long Beach Island has remained rather steady at around $1,000,000 or so in the months leading up to Coronavirus. Prices then took a notable drop in value up to June when the market really exploded. It is important to remember that a closing that took place in say June originated 30-60 days in the past. Therefore, the lower sales price we see in May of 2020 reflected sales that took place at the height of the pandemic. Likewise, the March closings reflect sales that took place just as COVID began to show in the US. The most interesting data point is the average price point in July, August, and September. The market has been climbing and is at an all-time high point in pricing.
Buying in the Long Beach Island Real Estate Market
If you are considering a home purchase in the Long Beach Island real estate market, you have to be sure to understand what determines value. Prices are high and demand is equally high. Couple this with a lower than average inventory level and you have the perfect recipe for a seller’s market. There are opportunities still to be found in the LBI real estate market though, you just have to know where to look! The Average LBI Real Estate Single Family Home Sales Price YTD in 2020 During Coronavirus is higher, but a smart buyer can still make a wise purchase. 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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