Long Beach Island Real Estate, Coronavirus and the Ups and Downs of the Market
Click here to search all homes for sale in the Long Beach Island NJ real estate market
COVID Roller Coaster Ride in the LBI Real Estate Market 
COVID Roller Coaster Ride in the LBI Real Estate Market 
COVID Roller Coaster Ride in the LBI Real Estate Market
Long Beach Island Real Estate Market Trends and COVID
Real estate on LBI, coronavirus, a national election…2020 has been a year like nonother, ad it is not over yet! Every day a new story comes out that can re-shape our thinking of the events unfolding around us. The LBI real estate market is no exception and COVID has made it a roller coaster. We have seen the market fall and then accelerate into one of the busiest markets in the history of Long Beach Island, and interestingly enough, one that favors both buyers and sellers. Understanding these trends is key to buying or selling in the Long Beach Island real estate market during the age of COVID or coronavirus.
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
COVID Roller Coaster Ride in the LBI Real Estate Market
There are a few standouts in the LBI real estate market that are worth understanding. These trends help to give some insight into the current climate
- The fall and rise of activity and prices
- A very strong summer rental season
- Historic interest rates
When coronavirus began to take over the national psyche, the LBI real estate market, like many real estate markets, saw a significant drop in activity, While sales still took place, uncertainly was everywhere and this caused a pullback in buyer confidence. That all changed quickly. Without question, we saw a V-shaped recovery in which activity fell and then skyrocketed. Some of this confidence was boosted by the summer rental market. The summer rental market on Long Beach Island has always been a cornerstone of the local economy and with people not able to travel as far or as free, they flocked to the Jersey Shore. This led to a much stronger and lucrative summer rental market. Lastly, interest rates are at a level never thought possible. With money so cheap, buyers are able to afford more home and absorb the higher cost of buying a home in the LBI real estate market.
Long Beach Island Real Estate, Coronavirus and the Ups and Downs of the Market
It goes without saying that the LBI real estate market is currently a seller’s market-but at the same time it is also a buyers market. There are current trends that favor both buyer and seller. Inventory is low and demand is high but buyers can take advantage of low-interest rates and a market that is likely to continue to rise. There are opportunities in the LBI real estate if you know where to look! 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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