Long Beach Island NJ (LBI NJ) Real Estate Market Update for Wednesday May 3rd 2023
LBI Real Estate Daily Market Update Wednesday May 3rd 2023 
LBI Real Estate Daily Market Update Wednesday May 3rd 2023 
LBI Real Estate Daily Market Update Wednesday May 3rd 2023
Long Beach Island Real Estate Sales Market Update Wednesday May 3rd 2023
It was a busy day in the LBI real estate market with a total of 10 changes to the MLS. Over half of this activity was in the form of pending sales. This activity is normal for this time of year as buyers look to buy a home in the LBI real estate market and make settlement before the summer season
- 3 new listings came up for sale in the LBI real estate market
- 6 homes went under contract on LBI
- 0 homes sold on Long Beach Island
- 1 home saw a price reduction in the LBI real estate market
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Daily Market Update Wednesday May 3rd 2023
Below is a breakdown of all changes and transactions that took place in the LBI real estate market today.
| Last Change Type | MLS # | Address | City | Current Price |
| Coming Soon | NJOC2018114 | 1001 Ocean Ave #1003 | Ship Bottom | $1,125,000 |
| New Active | NJOC2018154 | 1016-C Long Beach | Long Beach Township | $2,225,000 |
| New Active | NJOC2018028 | 2 E 69th St | Harvey Cedars | $1,750,000 |
| Price Decrease | NJOC2016652 | 210 E 23rd St | Long Beach Township | $2,620,000 |
| Active Under Contract | NJOC2016778 | 1032-A Long Beach Blvd | Long Beach Township | $1,350,000 |
| Active Under Contract | NJOC2017950 | 13 S Central Ave | Surf City | $1,549,000 |
| Active Under Contract | NJOC2016562 | 324 N 2nd St | Surf City | $1,299,000 |
| Active Under Contract | NJOC2016876 | 33 Hideaway Drive | Long Beach Township | $1,979,000 |
| Pending | NJOC2015932 | 1 E 69th St | Harvey Cedars | $2,795,000 |
| Pending | NJOC2017378 | 601 N Delaware Ave #13 | Beach Haven | $750,000 |
Today was an interesting day in the world of real estate as the Fed raised interest rates yet again. While they do seem to feel this will be the last increase, the benchmark rate is over 5% for the first time in years. This will most likely cause mortgage rates in the LBI real estate market and elsewhere to rise, but the good news is we should see things stabilize now. The LBI real estate market remains strong, as evidenced by today’s activity, and the real estate market on Long Beach Island has never been that sensitive to interest rates. All buyers should keep in mind that there are many different lending options available, many of which have the potential to carry a lower rate. 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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