Long Beach Island Real Estate Market Prices
Long Beach Island Real Estate 
LBI Real Estate Prices Reach New Highs 
LBI Real Estate Market Sales
Long Beach Island New Jersey Real Estate
The LBI real estate market has been seeing some strong activity over the last few years. So much in fact prices have set another high in 2018 and show little sign of slowing down at least for the short term. That said, there are clear signs that the overall market has slowed down and the average and median price of a single family home are one of the only indicators that the market may not be slowing down. The average days on market are longer, we are seeing more negotiation on the part of a seller and most concerning the number of closed and pending sales are far lower. Even as LBI Real Estate Prices Reach New Highs, buyers should be cautious and remained disciplined to avoid making a costly mistake when buying a home in the Long Beach Island real estate market.
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 Prices Reach New Highs
Below is a breakdown of the average and median sales price of a single family home for the last 10 years. I have included only sold single family homes in the LBI real estate market as they are far more common than condominiums, vacant land and multi-family homes. Including these sales can tend to skew data given the lower amount of data.
| Primary Year | Sale Price, Average | Sale Price, Median |
| 2009 | $932,715 | $768,000 |
| 2010 | $1,025,297 | $810,000 |
| 2011 | $954,501 | $762,500 |
| 2012 | $938,311 | $765,000 |
| 2013 | $894,211 | $702,500 |
| 2014 | $971,530 | $775,000 |
| 2015 | $1,025,729 | $800,000 |
| 2016 | $989,045 | $825,000 |
| 2017 | $1,106,278 | $866,400 |
| 2018 | $1,115,219 | $915,000 |
| 2019 | $1,186,615 | $950,000 |
As you can see from the above chart prices haven risen and are still rising. 2019 is of course just getting started but the initial data shows a large amount of stability in the price points. It is interesting that the rate of appreciation has slowed somewhat. Overall prices in the LBI real estate market are rising but at a slower pace.
Buying a Home in the Long Beach Island New Jersey Real Estate Market
Is this a good time to buy? Maybe. It depends on the intention and the type of property you are looking to buy. With prices at an all time high buyers should be paying attention to the other data points on Long Beach Island. The fact that far fewer homes have sold shows that some buyers are just priced out of the market. As I mentioned above there are warning signs that the market is slowing down but the good news is the LBI real estate market has proven time and time again to be very resilient. While the market may indeed drop and some prices may fall, the drop will usually be limited in both the amount of a fall and the length of the downturn. For more information about Long Beach Island Real Estate Market Prices or about buying and selling in the LBI real estate market 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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