Long Beach Island Real Estate Single Family Home Price November 2022
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Average Single Family Home Price 
LBI Real Estate Average Single Family Home Price 
LBI Real Estate Average Single Family Home Price
Long Beach Island Real Estate
As we come into the Thanksgiving weekend, I am sure many people will ask about the current condition of the LBI real estate sales market. There are a lot of mixed messages, with some predicting an epic market crash on Long Beach Island and others maintaining that the market will continue to appreciate. The simple truth is, nobody knows what the future holds, but we can look to historical sales data in the LBI real estate market and report the facts and the current market trends. to that end, LBI real estate average single-family home prices have shown remarkable stability over the past year, even in the face of rising interest rates.
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
LBI Real Estate Average Single Family Home Price
Below is a simple chart that shows the average sales price of a single-family home in the Long Beach Island real estate market over the past year (December to mid-November 2022). This shows only single-family homes, no condominiums, duplexes, or vacant land sales which have taken place throughout the year.
| Dec-21 | $1,771,637 |
| Jan-22 | $1,777,991 |
| Feb-22 | $1,488,448 |
| Mar-22 | $1,482,612 |
| Apr-22 | $1,777,132 |
| May-22 | $1,614,434 |
| Jun-22 | $1,916,182 |
| Jul-22 | $1,993,768 |
| Aug-22 | $1,783,703 |
| Sep-22 | $1,829,186 |
| Oct-22 | $2,113,152 |
| Nov-22 | $1,891,273 |
The data is remarkably simple and straightforward. The average single-family home sales price in the LBI real estate market has increased by about $120,000 over the last year, even as interest rates rose. History shows us that mortgage rates have very little impact on buyer activity in the LBI real estate market in either direction. In other words, if rates drop, we do not see a massive surge in activity; likewise, when rates rise, we do not see a mass exodus from the market. The most reliable prediction tool is the number of homes for sale, simple supply and demand. Right now and over the last year, inventory has been very low, and demand is still quite high. This has led to prices rising throughout the market and will likely continue to do so until inventory regulates.
Long Beach Island Real Estate Single Family Home Price November 2022
Buying a home in the LBI real estate market and elsewhere is a major investment, and whether this is the right time is a personal decision. If the right home comes on the market that fits your needs, this is a good time to buy. If not, then it is better to wait. It is risky to assume that the market will drop, we will see a wave of distressed sales and foreclosures, etc. Rather, it is likely the market will continue to balance and remain balanced for some time with prices going up or down a few points. I hope everyone has a safe and Happy Thanksgiving! 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:
LBI Real Estate Market Home Price and Mortgage Forecast
LBI Real Estate New Listings and Sales November 2022
LBI Real Estate Buyer Conditions Improve