Long Beach Island Real Estate Single Family Home Transactions January 2021-May 2021
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LBI Real Estate Sales January 2021-May 2021 
LBI Real Estate Sales January 2021-May 2021 
LBI Real Estate Sales January 2021-May 2021
Long Beach Island Real Estate Single Family Home Sales
LBI real estate market sales from January 2021-May 2021 have seen some remarkable activity. Fueled by high demand, low interest rates, and COVID, buyers have been taking advantage of the few homes for sale. The demand and general optimism towards the future of the LBI real estate sales market have led to prices increasing quite a bit compared to a year or two ago. The major problem right now is the inventory-or lack thereof. There are not enough homes for sale to meet demand. A quick look at the market shows us the following statistics:
- The average price of a single-family home on Long Beach Island is just over $1,400,000
- There have been 238 sold single-family homes between January 1st and May 1st 2021
- Both the number of homes sold and the average price point are much higher than 2019 and 2020
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 Sales January 2021-May 2021
Below is a chat showing a month by month breakdown of single family home sales on Long Beach Island for 2021, 2020 and 2019.
| Month | Sales, Number of | Sale Price, Average |
| Jan-19 | 39 | $1,109,059 |
| Feb-19 | 26 | $1,064,152 |
| Mar-19 | 43 | $1,394,373 |
| Apr-19 | 57 | $1,046,781 |
| Jan-20 | 47 | $1,187,915 |
| Feb-20 | 34 | $1,016,147 |
| Mar-20 | 40 | $925,328 |
| Apr-20 | 44 | $1,024,435 |
| Jan-21 | 54 | $1,454,236 |
| Feb-21 | 48 | $1,443,535 |
| Mar-21 | 83 | $1,433,048 |
| Apr-21 | 53 | $1,287,368 |
The chart shows us some fantastic trends. Prices are up considerably over the past year, with an average price of $1,404,000 in 2021 compared to an average price of $1,038,000 in 2020. To be fair, the average price was lower in 2020 as buyers were concerned about the impact COVID would have on the Long Beach Island real estate market. There was less of a gap compared to 2019 where the average price was $1,150,000, but the simple fact remains that prices have risen. So too has demand. 2019 and 2020 each showed 165 closed single-family homes in this time period, whereas 2021 showed a remarkable 238. The increased number of sales helps to explain where there is such a shortage of inventory on Long Beach Island.
Long Beach Island Real Estate Single Family Home Transactions January 2021-May 2021
2020 was a year for the books, which makes any comparison challenging. After LBI “reopened” in June of 2020, the market exploded to levels never before seen. It is doubtful that we will see similar activity this year, especially because there are so few homes for sale. That said, even in this low inventory environment we are currently experiencing, the number of homes sold still outpaced years where there was more to pick from. Moving forward, so long as the current disparity between supply and demand exists, it is likely that prices will continue their upward trend. 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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