Less Showing Activity in the Long Beach Island Real Estate Market
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Fewer Showings in the LBI Real Estate Market 
Fewer Showings in the LBI Real Estate Market 
Fewer Showings in the LBI Real Estate Market
Long Beach Island Real Estate
Thanks to the coronavirus, we are experiencing fewer showings in the LBI real estate market. While some of this may be a result of buyers being concerned about the recent drop in equities, much of it also has to do with sellers not wanting strangers in their homes! In an era of social distancing, this makes a lot of sense. These reactions are the first real impact the coronavirus has had on the Long Beach Island real estate market. The coronavirus has lead to three notable changes:
- Sellers being unwilling to accommodate showings
- Fewer new listings coming on the market
- A slowdown in pending sales
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
Fewer Showings in the LBI Real Estate Market
It is hard to sell a house when a showing cannot take place! Luckily there are a few workarounds in the LBI real estate market. Technology has enabled us to develop excellent virtual tours. These tours can give buyers a real sense of the house and the layout when used correctly. A buyer can still see the house and the area from the outside, and when coupled with the higher resolution virtual tours currently available, sales can still take place. If a buyer is looking at a home as a knockdown, they most likely don’t care about seeing the interior anyway, so for this class of LBI real estate transactions, there is no difference. It is also worth mentioning that most homes on Long Beach Island are not primary homes. Therefore, while there are certain situations where a seller will not accommodate a showing, a higher percentage of sellers will allow a tour of their home than in a primary market. This should help to keep some activity. Fear of the coronavirus has already and will continue to reduce the number of new listings coming on the market. Inventory levels in the LBI real estate market are already deficient, so this will only add to the problem. Together, this will lead to fewer pending sales in the LBI real estate market for the short term.
Selling and Buying in the Long Beach Island Real Estate Market
Ironically, the same factors that will reduce market activity in the short term will most likely increase activity significantly when the coronavirus abates. Low inventory levels, which will only intensify, can lead to buyers making a fast decision when they find a home with real value. Likewise, there is still significant demand for a home in the Long Beach Island real estate market. When showings resume in earnest, I expect we will see a bustling spring market on LBI. 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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