LBI Real Estate Market YTD Update April 2020

LBI Real Estate Market YTD Update April 2020

Long Beach Island Real Estate Market Transactions Year To Date April 2020

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Long Beach Island Real Estate

We are about half way though April 2020 and it has been a rocky first quarter to say the least. LBI Real Estate Market YTD Update April 2020 show some fascinating trends thus far and it will be helpful to look back at this time frame in the months and quarters to come. The world is clearly still struggling with coronavirus or COVID-19 and the impact of this has been felt on Long Beach Island. In my weekly Long Beach Island real estate market updates we have seen a noticeable decrease in overall activity which is to be expected with the current situation. That said, buyer interest and buyer confidence seems to be remaining very strong and the general perception is that once this passes, the LBI real estate market will explode.

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 YTD Update April 2020

Below is a chart that shows a month by month breakdown of the number of closed sales and the median sales price in the Long Beach Island real estate market. I have also enclosed sales transactions though April 13th 2020 to help give a sense of where the market is trading.

MonthSales, Number ofSale Price, Median
Jan54$988,750
Feb39$779,000
Mar47$833,750
Apr21$783,500

Long Beach Island Real Estate Market Transactions Year To Date April 2020

We are still operating in an area of unknown. While it is clear that we are in a recession, the short and long term impacts of this recession remain to be seen. One thing is clear however. The national economy and the local real estate market are far better positioned than they were in 2008 and 2009. It seems highly unlikely that we will see a significant market drop. Rather, the pent up demand for seasonal beach houses could prove to generate a tremendous surge of activity in the Long Beach Island real estate market once coronavirus comes under control. If you have any questions about buyingselling 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

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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