Long Beach Island NJ Real Estate Sales Data Points to 2017 Being a Market High
LBI Real Estate 
LBI Real Estate Days on Market and Negotiation Rate 
Long Beach Island Real Estate
Long Beach Island Real Estate
LBI Real Estate Days on Market and Negotiation Rate : As we move into 2019 and have a chance to review past data points it seems that more and more 2017 will be recorded as the market high. There has been a drop off in the number of closed sales in the LBI real estate market and while prices are still rising, the lower rate of sales does warrant some concern. I have written that part of the decrease in market activity has to do with very low inventory levels (it’s hard to sell houses when there are no houses to sell!) but even with this factored in there is data to suggest the market has slowed down. One very interesting set of data to support this is LBI Real Estate Days on Market and Negotiation Rates between the original list price and the sales price. Even with the negative data that is appearing buyer confidence is still high and houses are selling at a higher than average pace. Buyers should exercise caution and discipline when looking to buy a home. There are still many great values in the Long Beach Island real estate market provided a buyer is patient enough to wait for one!
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 Days on Market and Negotiation Rate
In the chart below I have noted all single family homes sold in the LBI real estate market over the past 5 years. You will see the average days on market for each year and the percentage of the ORIGINAL listing price that a home sold for. I prefer this statistic as it shows if a seller had to reduce their price in the market.
| Primary Year | Close Price to Original Price Ratio | Days to Sell, Average |
| 2014 | 92.70% | 146 |
| 2015 | 92.60% | 167 |
| 2016 | 93.10% | 161 |
| 2017 | 95.00% | 120 |
| 2018 | 94.60% | 113 |
| 2019 | 92.70% | 116 |
It is clear from the above data that buyers will more aggressive in 2017 than any other year. Homes sold for the highest percentage of their listing price and spent a considerably lower amount of time on the market than most of the other years. This also indicates that there were fewer price drops in 2017 as buyers bought homes in a short time frame and were willing to pay a higher price. I have included 2019 in this chart for comparison but readers should keep in mind that there is not really enough data to draw accurate conclusions from 2019 yet.
Buying in the LBI Real Estate Market
While there are several data points to suggest the market is dropping there are equally data points to show the market is holding steady and even rising. The average and median prices of homes have been rising albeit at a slower pace than years past. There were 495 single family homes sold in 2018 and while this number was lower than 2017 (545) it is still higher than any other year over the past decade. This shows there is still a high degree of buyer confidence in the overall market. If you are looking to buy on Long Beach Island there are still great opportunities…but you have to know how to identify them and be willing to wait for them. Now more than ever the educated buyer will beat the market. Keeping an eye on statistics like LBI Real Estate Days on Market and Negotiation Rate is a great way to understand value on Long Beach Island. For more information please do not hesitate to contact me.
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
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