Long Beach Island Real Estate Spring Home Sales
Fresh LBI Real Estate Listings For The Spring 2015 MarketLong Beach Island Real Estate
The real estate market on Long Beach Island has seen some impressive activity. 2014 proved to be one of the best years for home sales with a higher average sales price and more homes sell that we have seen in the past several years. 2015 looks to be shaping up for another positive year in the LBI real estate market and fresh LBI real estate listings for the spring 2015 market will only help to keep this improvement strong. It is typical to see an increase in listing activity in early spring leading up to the summer months. What is hard to track, is how many of these homes are new to the market and how many of these homes were re-listed after having failed to sell.
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Fresh LBI Real Estate Listings For The Spring 2015 Market
There are a few trends we can expect to see in the LBI real estate market. They are:
- There will be a number of new homes being listed that have never been on the market for sale
- Some of the homes that will be listed in the spring will be on the market before but most likely at a higher price point
- Roughly twice as many homes expire, in other words fail to sell, as there are close transactions each month
Spring is an excellent time to list a home for sale. Buyers become very serious about owning a home leading up to the summer months. It is important to remember the seasonal trends that exist on Long Beach Island, and how the entire economy centers around summer. There is a strong motivation for a homebuyer to be in their home no later than May or June to capitalize on the entire summer. This can incentivize a seller to list their home an appropriate price and sell before the season begins.
A look at the data tells us that roughly twice as many homes failed to sell each month as there are close transactions. Looking at January 2014, there were 78 expired listings yet only 33 close transactions. A great number of these expired listings will come back on the market for sale in the classified as new. In reality, they are not new to the market, they are only re-listed homes. The good news is, the primary reason a house fails to sell has to do with price. Many expired listings are overpriced and when they are re-listed they will be at a more reasonable number for the market. This can give them a second chance and be far more appealing to a homebuyer.
New Listings in the LBI Real Estate Market
It is fairly to track new listings as they come on the market. Any real estate agent can offer automatic email updates to notify when a new listing comes on the market. What is sometimes harder, is to be notified if a home has been re-listed. Sometimes, a re-listed home is a better deal as the seller may be somewhat discouraged that their property is not sold. This can lead to a greater level of negotiation and ultimately better sales price. It is for this reason, your real estate agent should be able to educate you on the history of listing to determine what the appropriate sales price will be. For more information about fresh LBI real estate listings for the spring 2015 market or the LBI real estate market in general, contact me 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market