Long Beach Island New Jersey Real Estate Price Appreciation Over Summer 2021
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LBI Real Estate Market Increases-Summer 2021 
LBI Real Estate Market Increases-Summer 2021 
LBI Real Estate Market Increases-Summer 2021
Long Beach Island Real Estate Market Pricing
The LBI real estate market has seen a lot of activity since COVID and the two greatest impacts have been in the number of homes for sale and the rapid increase in prices. Now that summer is all but over, it is helpful to take a look at the changes to Long Beach Island New Jersey Real Estate Price Appreciation Over Summer 2021. All buyers and sellers should be aware of the current state of the market so they can better understand how their LBI real estate transaction measures up.
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 Market Increases-Summer 2021
To determine the rate of appreciation in the LBI real estate market over Summer 2021, we have looked at the average price of a sold single-family home in the beginning of the year, January 2021-March 2021, compared to the average price of a sold single-family home between June 2021 and September 2021.
Between January and March of 2021, the average price of a single-family home was $1,497,451, and there were 92 sales during this time. From June to September of 2021, there were also 92 sales with an average price of $1,686,835. This represents an increase of about 12.5% over the summer season.
Of course, the above is an average of the market. Different locations will trade at different numbers. Based on their level of demand, this can change the rate of appreciation. To demonstrate this, we also looked at only the oceanside sales. Between January and March of 2021, the average price of a single-family home on the oceanside was $1,340,495 and there were 36 sales during this time. From June to September of 2021, there were 35 sales with an average price of $1,452,317. This represents an increase of about 8.5% over the summer season.
To put this into perspective, if a home sold on Long Beach Island for $900,000 in January or February of 2021, a market adjustment for the house should probably fall somewhere in the area of $1,025,000-$1,050,000 give or take depending on the location.
Long Beach Island New Jersey Real Estate Price Appreciation Over Summer 2021
The LBI NJ real estate market is always changing. Any buyer, seller, or investor needs to be aware of these changes and how it can impact an individual real estate transaction. By tracking sales and current market trends, we can attempt to make predictions about where the market is heading and if this is a good time to buy, sell or wait. 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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