Long Beach Island NJ Real Estate Market Predictions Spring 2023
LBI Real Estate Market Spring 2023 Predictions 
LBI Real Estate Market Spring 2023 Predictions 
LBI Real Estate Market Spring 2023 Predictions
Long Beach Island Real Estate
For anyone looking to buy or sell a home in the LBI real estate market, the most common question I am asked is if this is a good time to buy. Timing the market is a very challenging, if not impossible, thing to do, so the best way to prepare for a transaction in the Long Beach Island real estate market is to be an educated consumer. While nobody can accurately predict what the future will hold for the LBI real estate market, by looking at the data, we can make some predictions based on current and past market trends. In short, LBI real estate is doing very well, and it is likely to continue to do so in the coming months and years.
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 Spring 2023 Predictions
There are a few local data points we can examine to make some predictions about the LBI real estate market. The most significant of these is the current supply of homes for sale and buyer demand on Long Beach Island. Supply is low, and demand is high, which naturally leads to a stable or rising real estate market. Prior to COVID, there were roughly 500-600 homes for sale in the LBI real estate market. Today, there are about 120. This is a fraction of what the “normal” supply level was, and even when inventory was higher, the LBI real estate market was still rising a few percentage points each year. We still see competition among buyers and a roughly equal number of new listings and pending sales each week. This activity tells us that buyer confidence is high and the market is in balance. It is doubtful that we will see a major shift in prices (in either direction), but with the current levels of buyer and seller activity, we will likely see appreciation this year for most homes on Long Beach Island. If you can afford a home in the current real estate climate on Long Beach Island, it might make sense to buy it now. There is a good chance that interest rates will drop in the near future (something supported by the fact that many long-term bank CD rates are lower than short-term money, signally that experts anticipate lower rates in the future). If rates do drop, it is fair to assume that prices will start to rise faster, and buyers will face more competition in the LBI real estate market.
Long Beach Island NJ Real Estate Market Predictions Spring 2023
Of course, nobody knows what the future will really hold for the LBI real estate market, and there are always warning signs to balance out the positive news. Mortgage rates are much higher than they were (but are still historically low), and there are not many options to pick from in the LBI real estate market with low inventory. Still, I believe the LBI real estate market will hold its value at worst and most likely increase in the next several months. As I mentioned above, the best way to prepare to buy or sell a home in the LBI real estate market is to learn about the area, the market trends and understand what creates value. There are opportunities in any market, including this one, and by knowing what to look for, you can take advantage of an LBI real estate opportunity when it comes along. For more information about Long Beach Island or about 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
More LBI Real Estate Information:
Spring 2023 Seller’s Market on LBI
Balancing Your Wants and Needs in the LBI Real Estate Market
Buying LBI Real Estate is a Smart Investment