Historic Count of Active Single Family Homes in the Long Beach Island Real Estate Market
The Long Beach Island real estate market has been going though a bit of a change lately. For the first time since Hurricane Sandy we have seen several months of lower sales numbers (although the average price of a single family home on Long Beach Island continues to be high). I have written several times in my monthly sales updates about how lower inventory levels are making it harder and harder to buy the “right” house on Long Beach Island. In today’s article I wanted to break down the inventory levels over the past few years to give some context to why and how LBI Real Estate Active Listing History can have such an impact on the LBI market. In summary:
- Inventory levels of single family homes on LBI are historically low
- With less homes for sale, prices have increased making good inventory less affordable to some buyers
LBI Real Estate Active Listing History
The historic count of active single family homes in the Long Beach Island real estate market can be found in the table below:
|Month||2014 Active Listings||2015 Active Listings||2016 Active Listings|| |
2017 Active Listings
2018 Active Listingss
As you can see from the data above, the number of active listings for single family homes on Long Beach Island is considerably less than in years past. Add to this the fact that many of the “active” homes actually have contracts pending on them and it is easy to see why some buyers are having a harder time purchasing a home in the LBI real estate market.
Buying a Home in the LBI Real Estate Market
When looking to buy a home on Long Beach Island it is important to consider what makes the most sense and the most responsible investment. Taking this point further, sometimes it is best to wait for a “better” house to come on the market rather than jump into something that doesn’t’ meet all or most of your needs. In a market of lower inventory we see many buyers rushing into a purchase. This simply put is the worst thing you can do. It is far better to be patient and wait for a property that has strong fundamentals and will hold its value long term in the Long Beach Island real estate market. For more information about buying a home in the LBI real estate market or about LBI Real Estate Active Listing History please do not hesitate to contact me anytime.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org