What Will We See in the Long Beach Island Real Estate Market in the Second Half of 2021?
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LBI Real Estate Trend Predictions Through the Second Half of 2021 
LBI Real Estate Trend Predictions Through the Second Half of 2021 
LBI Real Estate Trend Predictions Through the Second Half of 2021
Long Beach Island Real Estate
As we move through Summer 2021, many buyers and sellers in the LBI real estate market are curious about what the next several months will bring. Of course, nobody has a definite answer to this question, but several emerging trends can shed some light on the future of the LBI real estate market. All buyers, sellers, and investors should pay attention to these trends as they can significantly impact a Long Beach Island real estate transaction. My predictions for the next few months are as follows:
- Inventory will remain lower than usual, but we should start to see improvement
- The price of a home in the LBI real estate market will continue to rise
- Interest rates will remain very low, but they will start to increase slowly
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 Trend Predictions Through the Second Half of 2021
The number of homes for sale in the Long Beach Island real estate market is very low. At present, there are only about 3-4 months of supply, and demand is very high. For reference, a balanced market is around 6-7 months of inventory, so there is still a ways to go. However, we are starting to see some improvement on this front. The number of homes for sale on LBI has slowly begun to rise, and I expect that trend will accelerate through the fall. The price of a home is also likely to increase but at a slower pace. We saw a rapid appreciation in 2020 and 2021, with some appraisers adding between 2% and 4% a month to the Long Beach Island real estate market. Provided inventory does not increase dramatically, prices of homes should continue to rise. Interest rates are also likely to increase. Again, the increases will probably be small, but even small increases can add up over time and add a great deal to the ownership costs. All buyers in the LBI real estate market should be keenly aware of the cost of owning a home, and interest rates are one of the most expensive variables in the market.
What Will We See in the Long Beach Island Real Estate Market in the Second Half of 2021?
There are many ways for my predictions above to change, for example, a COVID resurgence, new shutdowns, stock market crash, etc. Barring some unforeseen occurrences, the trends we see at present in the LBI real estate market will likely carry into the second half of 2021. All buyers, sellers, and investors should pay attention to the LBI real estate market and especially the number of homes for sale. A significant rise or fall in the number of homes for sale can dramatically impact the prices of Long Beach Island homes. 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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