Buyer Activity and Trends in the LBI Real Estate Market

What Long Beach Island NJ Real Estate Market Buyer Activity Tells Us About the Market

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

Buyer Activity and Trends in the LBI Real Estate Market

Long Beach Island Real Estate

When looking to buy or sell a home in the LBI real estate market, one of the best ways to prepare is by being educated. This includes understanding what kinds of patterns and activities we see throughout the market. Buyer activity is the key driver as this tells us what buyers are looking to purchase and, depending on the amount of activity, what the future of the Long Beach Island real estate may be. While it is clear that the near reckless behavior of buyers over the past two years has changed, we are still seeing strong activity and high levels of confidence throughout the LBI real estate market.

By : 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

Buyer Activity and Trends in the LBI Real Estate Market

There are two big takeaways when looking at buyer activity in the LBI real estate market. First, buyers are being more cautious. While exceptions apply, they are no longer willing to make offers with no home inspection, no mortgage appraisal, etc., as they were at the height of the COVID market. Buyers are also paying attention to the market itself and making offers in line with recent sales. During COVID, many buyers would make bids based on emotion rather than comparable sales. Now, buyers are back to looking at sales data, market metrics, and comparable sales to base what they will offer. This means that seller’s need to be open to offers and be willing to negotiate. Second, buyer activity and confidence are still very high. The best way to measure this is by my weekly sales updates, which track the activity of the LBI real estate market week by week. We see a near balance between new listings and pending sales each week. This means that just as many homes go under contract each week as new homes come on the market. This tells us that there are ready, willing, and able buyers who can and do enter into a transaction. Together this points to the future of the LBI real estate market being bright as we have a well educated and protected pool of buyers who are still being very active in the market and absorbing inventory.

What Long Beach Island NJ Real Estate Market Buyer Activity Tells Us About the Market

When looking to buy, sell or invest in the LBI real estate market, the more you know and understand the market, the better you will be. Of course, nobody can predict the future or time of a market perfectly. Still, with inventory levels being so low and with buyers being very active, it is likely that the LBI real estate market will remain stable or continue to rise. It is doubtful that we will see a drop, but it is also doubtful that we will see a double-digit increase as we have for the past 2 years. Instead, we are most likely in a balanced market in which prices will continue to rise at a slower pace. For more information about buying, selling or investing in the Long Beach Island 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

www.BuyLBI.com

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