Average and Median Days on Market in the Long Beach Island New Jersey Real Estate Market
When looking to buy a home or sell a home in the Long Beach Island real estate market, knowing the average and median days on market can be critical. For sellers, knowing how long you should plan to have your home on the market can go a long way towards planning. For buyers, knowing what is the “normal” amount of time on the market can help to determine if there is some negative with a home-or if it is just overpriced. In either case knowing the LBI Real Estate Average Days on Market is an important step towards a successful transaction in the Long Beach Island real estate market.
LBI Real Estate Average Days on Market
Below I have complied the average and median days on the market for a single family home in the LBI real estate market.
|Primary Year||Days to Sell, Average||Days to Sell, Median|
As you can see I have grouped the data by year over the last 5 years. Some interesting trends emerge. The average and median time on the market have both dropped considerably in the last 5 years. This has created a more competitive market and is a trend I would completely agree with. To be fair, 2013 was a very uncertain time in the LBI real estate market as it was dealing with the immediate aftermath of Hurricane Sandy. 2017 and 2018, which is far enough along in the sale season to make some reasonable assumptions, have both seen a much lower average and median days on the market. In my opinion this is partly due to very low inventory levels of quality homes, especially in the lower price points. It is fair to say that the LBI real estate market is competitive and more of a seller’s market than a buyer’s market at the moment.
For more information about LBI Real Estate Average Days on Market or about buying, selling and investment in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
You May Also Like: