Average Selling Time for a House on LBI

The Average Time a Home is For Sale in the LBI NJ Real Estate Market

Average Selling Time for a House on LBI
Average Selling Time for a House on LBI

 

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

Long Beach Island Real Estate Sales Information

The LBI real estate market has been very active. Since Spring of 2013, sales of single family homes, condos and duplexes increased dramatically as the worry of Hurricane Sandy faded. The fall real estate market on LBI only reinforced the notion that the real estate market shows opportunity as buyers have been willing to again invest in homes at the beach. This has lead many buyers to ask about the Average Selling Time for a House on LBI. This is something that is important for not only buyers but for sellers as well.

Average Selling Time for a House on LBI

Every month I publish a sales update highlighting the recent market activity on LBI and I include the average time a home spends for sale in the LBI real estate market however there are a few points to consider when looking at this data:

  • On average, single family homes in the LBI NJ real estate market spend about 130-150 days on the market
  • The average selling time depends on the property and, more importantly, the price
  • Homes that enter the market at too high a price will not only spend longer on the market, they will also sell for less money than if they were priced correctly from the start

A house is is well priced will spend far less time on the market than the 130-150 days we normally see. It is not uncommon for a well priced house to sell in less than a month if it is marketed correctly. When a new listing enters the market, it will most likely see the bulk of activity in the first 20-40 days so the activity that is experienced during this time frame can go a long way in telling you if the house is priced correctly. On the other side, there are some homes for sale on Long Beach Island that have been listed for over 1,000 days! These homes suffer from either too high a price or too little exposure.

Buying and Selling in the Long Beach Island NJ Real Estate

Regardless if you are buying or selling (or both) in the LBI real estate market, it is helpful to understand the Average Selling Time for a House on LBI. If you are looking to buy a house in the LBI NJ real estate market, assessing the time a home has spent on the market will help guide you when making an offer on the house on Long Beach Island. When selling in the LBI real estate market, you should be conscious of the fact that the best activity comes early on in the listing so if a house has sat on the market for too long, adjustment are needed to either the price or the marketing strategy. For more information about the Average Selling Time for a House on LBI or the LBI NJ real estate market, please contact me, Nathan Colmer and I will be happy to help!

Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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