Long Beach Island Real Estate Buyer Conditions Improve
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Inventory is Improving for Buyers in the LBI Real Estate Market 
Inventory is Improving for Buyers in the LBI Real Estate Market 
Inventory is Improving for Buyers in the LBI Real Estate Market
Long Beach Island Real Estate
Since Spring of 2020 in the depths of COVID-19, the number of homes for sale on Long Beach Island has been in a steady state of decline. Buyers flocked to the LBI real estate market, and with demand at an all-time high, the supply of homes for sale evaporated. Anyone who has been looking to purchase a home in the LBI real estate market is well aware of this. The good news is, inventory is improving for buyers in the LBI real estate market. While the supply of homes is still far less than average and nowhere near enough to meet current demand, we have seen a few weeks when more new homes were entering the market than pending transactions.
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
Inventory is Improving for Buyers in the LBI Real Estate Market
While the inventory of homes for sale on Long Beach Island still has a long way to go before reaching pre-COVID levels, the addition of homes for sale will give buyers more options. It is doubtful that this will have any meaningful negative impact on price. Instead, it will provide buyers with more to pick from and hopefully reduce the number of offers we see on a home. More inventory is a good thing for both buyers and sellers, and it helps to restore some balance to the LBI real estate market. While the net increase in the number of homes for sale on Long Beach Island is small, usually about 2-5 more homes a week, it is better than the constant reduction in inventory that we have been experiencing for the last 18 months or so. It should be mentioned that not every week has seen an increase. Sometimes an intense week of sales can wipe out several weeks of increases, but the takeaway is that conditions are showing signs of improvement. I expect that we will see this trend continue into the fall, which is usually a busy time for new listings.
Long Beach Island Real Estate Buyer Conditions Improve
If you are thinking about buying a home in the LBI real estate market right now, you may be timing the market very well. As inventory starts to improve, some buyers may pause to see what else comes along, so if a house appeals to you, it may be the perfect opportunity. As I mentioned above, it is doubtful that the modest increases in the inventory levels will cause prices to call. There is still far too large a gap between supply and demand. So long as that gap exists and there is no outside impact that cannot be predicted, there is only one way for prices to move. Inventory is improving for buyers in the LBI real estate market, and having more homes for sale should improve the chances a buyer has of getting what they want in a summer home on Long Beach Island. 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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