Where Are Prices Heading in the Long Beach Island NJ Real Estate Market 2023
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Future LBI Real Estate Home Prices 2023 
Future LBI Real Estate Home Prices 2023 
Future LBI Real Estate Home Prices 2023
Long Beach Island Real Estate
Real estate home prices have been a controversial subject over the past year, and the LBI real estate market is no exception. Over the past two years, we have seen prices increase at an incredible pace, and now that the near reckless buying patterns have abated, many are left to wonder if they should buy now or wait for a crash. The truth is, nobody really knows where home prices in the LBI real estate market are heading, but there are some key metrics we can use to gauge the market as well as look at real estate on a national level.
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
Future LBI Real Estate Home Prices 2023
One of the key driving factors of any market is supply and demand. Right now, the Long Beach Island real estate market, as well as the national real estate market, are generally still in a supply shortage. Before COVID, the LBI real estate market had roughly 500-600 homes for sale, and with those inventory levels, we saw steady price appreciation. Now, in the current market, there are around 125 homes for sale on Long Beach Island. With such a disparity between a “normal” inventory level and the current selection of homes, there is a strong argument to be made that prices will continue to rise (but at a slower pace). On a more national level, interest rates are a compelling argument as to why the market will fall, and it likely will in some markets. That said, most agree that depreciation and appreciation will vary from market to market, with some seeing price drops and others seeing price increases. Low levels of inventory coupled with a strong labor market and an absence of distressed sales all point to the LBI real estate market, and many others around the nation, remaining stable and strong.
Where Are Prices Heading in the Long Beach Island NJ Real Estate Market 2023
Many buyers in the LBI real estate market predicted, and in some cases hoped, for a crash similar to what we saw in 2008-2009. That has clearly not happened, and it most likely will not. There are many advantages to buying and owning a home on Long Beach Island, and it is nearly impossible to predict the top or bottom of any market accurately. Trying to decide where prices are going and if this is a good time to buy a home in the LBI real estate market is a personal decision. If buying a home for you and your family makes sense, most buyers can do so with a reasonable degree of confidence that they are not buying at the top of the market. If there is any drop, it will likely be very small and rebound in the next few years. For more information about buying, selling or investing in the Long Beach Island 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
More LBI Real Estate Information:
Two Factors Facing the LBI Real Estate Market
What is an LBI Real Estate Seller’s Market