Dealing With Lower Inventory Levels in the LBI Real Estate Market

How to Handle Less Homes For Sale in the Long Beach Island Real Estate Market

Dealing With Lower Inventory Levels in the LBI Real Estate Market

Long Beach Island New Jersey Real Estate

The Long Beach Island real estate market has seen impressive uptick in both activity in the average sales price. Fueled by a stronger economy, low interest rates, and a positive atmosphere, the LBI real estate market has been improving. Much of this can be attributed to the positive impacts of Hurricane Sandy has Long Beach Island has seen a surge of new construction and renovation. The number of homes available in the LBI real estate market follows an interesting seasonal trends, so dealing with lower inventory levels in the LBI real estate market is an important element to consider for both buyers and sellers.

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Dealing With Lower Inventory Levels in the LBI Real Estate Market

Understanding how to handle less homes for sale on Long Beach Island varies. Both buyers and sellers need to be aware of seasonal trends and how they can impact their ability to succeed in LBI real estate transaction. For example:

  • Buyers must be aware of how inventory levels will limit or increase competition
  • Sellers must make sure their listing price is relative to the greater LBI real estate market
  • Both buyers and sellers must be cognitive of the average sales price, the average days on market, and the developing trends on Long Beach Island

The old adage of supply and demand weighs heavily real estate market on Long Beach Island. Buyers must be fully aware of time when looking to buy a home. Higher or lower inventory levels in the LBI real estate market can influence the decision on when to buy. We typically see a surge of new listing activity in the beginning of March, mid to late August, and January. If the inventory levels of homes are low, a buyer may experience a bidding war and a home sale price over listing price. It may be better to wait until late. Higher inventory, unless the home particularly appeals to you or seems like a great deal, to take advantage of the potential for new inventory.

While sellers must ensure that the listing price of their home is attractive to buyers, regardless of the inventory levels, it is important to ensure that a listing is attractive even when inventory levels are low. If a home has been sitting on the market for a great period of time, it is usually attributed to a home being overpriced, poorly marketed, or in poor condition. It inventory levels are well but LBI real estate market activity is high at a home is not selling, an adjustment must be made.

With the entire LBI economy centering around summer, it is important to make every effort to coordinate a purchase with the start of the summer season enjoyment or investment potential of the home. It is common to see an increase in buyer activity immediately following summer, after the start the new year, and early spring in anticipation of a closing before the summer season begins. The timing of a purchase or the timing of when to list a home should be related back to the overall trends we see on LBI. Keeping in mind the trends in the LBI real estate market can help to ensure a successful transaction.

Inventory Levels in the LBI Real Estate Market

Homes, on the market all throughout the year. The very last thing a buyer or seller want to do is rush a transaction. Sometimes, patience can pay off and result in a better deal. Inventory levels are the one of several metrics that should be used to evaluate the proper timing for the LBI real estate transaction. For more information about Long Beach Island real estate or about dealing with lower inventory levels in the LBI real estate market, call, text or email meĀ and I will respond right away.

By : Nathan Colmer | The Van Dyk Group

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

www.BuyLBI.com

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