Expired LBI Real Estate Listings

Understanding Expired Listings In The Long Beach Island NJ Real Estate Market

Expired LBI Real Estate Listings
Expired LBI Real Estate Listings

Long Beach Island Real Estate

When a buyer begins their search for a home in the LBI real estate market, the most common place to start is searching what is currently on the market for sale! Makes sense right? Most real estate websites such as Zillow, Trulia and Realtor.com offer the current inventory however before buying a home on Long Beach Island, it is important to also take a look at Expired LBI Real Estate Listings. These expired listings can offer valuable insight to the current trends in the LBI real estate market and answer if this is the right time to buy.

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

Expired LBI Real Estate Listings

Expired LBI real estate listings are simply homes that failed to sell in the current market. While this can be for a number of reasons, the most common reason has to do with pricing. A home that is overpriced will simply not sell. An overpriced home can be for several reasons such as:

  • A general downturn in the market
  • A seasonal trend
  • A poor analysis of the market by the listing agent

For buyers and sellers, the first reason is perhaps the most alarming. If the LBI real estate market produces an abundance of expired listings with constantly lower prices, this is a clear sign that confidence in the LBI real estate market is eroding. An erosion in confidence for any market will inevitably lead to lower prices.

The LBI real estate market is highly dependent on seasonal trends. There are “right” and “wrong” times to list a home for sale. By listing a home in one of the slower seasons, valuable time can be lost and a home may not sell. Generally speaking, listing a home just before summer and during the holidays can lead to a low level of interest in the listing.

Human error can also contribute to a home failing to sell on Long Beach Island. There is an unfortunate practice of “buying a listing” by which an agent will promise an artificially high price to entice the seller to list. While this helps the listing agent, it does a great dis-service to the seller and will almost certainly lead to an expired listing.

For both buyers and sellers who are considering a LBI real estate transaction, understanding current trends of  Expired LBI Real Estate Listings is vitally important. By monitoring and comparing the number of price reductions and expired listings in a market, it is rather easy to predict where prices are heading. For more information about Expired LBI Real Estate Listings feel free to send me a message and I will be happy to answer any questions you have!

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