Long Beach Island New Jersey Real Estate Market Liquidity

Understanding LBI NJ Real Estate Liquidity

Selling a Home in the Long Beach Island New Jersey Real Estate Market

Selling a home on Long Beach Island is very different than selling a home in a primary home market. First, the location of a home is, above all else, the major contributor of value in the LBI real estate market. Secondly, the condition of the home will play heavily into the overall value. Additionally, the lot size, the elevation, the cost of flood insurance, the views and the amenities offered will dramatically influence the price of a home on Long Beach Island. These factors also contribute to Long Beach Island New Jersey real estate market liquidity, in other words the supply and demand of homes on LBI.

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Long Beach Island New Jersey Real Estate Market Liquidity

There is an individual market for every property on Long Beach Island. This means there are a certain number of people who will be interested in the location, home style, and amenities offered by your home. Likewise, there will be a certain number of buyers who are not interested. It is essential to market to those buyers who are interested in your home. When pricing a home to sell in the LBI NJ real estate market, it is essential to understand the liquidity of your home. To this end, there are a few constant variables to consider such as:

Oceanside, oceanblock and oceanfront homes are generally more desirable and sell faster.
Single family homes are the most popular property type in the Long Beach Island real estate market
The most popular styles of LBI homes are Cape Cods, raised ranches or reversed living contemporary homes.

Above all else, location drives value on Long Beach Island and determines liquidity in the LBI real estate market. Bay side homes will not only cost less, but will usually take longer to sell than their oceanside counterparts. While there are some advantages to living on the bayside, most buyers prioritize distance to the beach above all else. When pricing a home, the location must be taken into account and help gauge the liquidity of the market. With fewer buyers willing to look on the bayside, the listing price of a home must be taken into account.

There are several property types on Long Beach Island. They are: single family homes, condos, duplexes, commercial, vacant land, tear down homes, storm damaged homes and interval ownership. Of these, single family homes are by far the most popular and will attract more buyers. Less active areas of the market, for example commercial properties or interval ownership, must compensate for the lack of buyers by offering a more attractive listing price.

The style of the home too impacts the liquidity. Traditional Cape Cods are still a very functional and popular beach home provided the elevation is sufficient. Most Cape Cods on the bayside will be slightly below base flood elevation which can increase the costs of insurance. Raised ranches are a popular style of home as they are well above base flood elevation but still offer an affordable price point for Long Beach Island. For those in a higher price point, a reversed living contemporary home is the preferred style of home. Depending on the other factors of the specific home, the style will impact liquidity.

As I mentioned above, there is a specific market for every home on Long Beach Island which is derived from the aspects of the home in question. Speaking in general terms, the most popular home will be a single family home, above base flood elevation close to the beach with a view. These homes have a very high liquidity and this is reflected in their listing prices and the time spent on the market. Homes that fall outside of that model still have a strong and vibrant market on LBI, but it is important to understand the competition. The competition of other homes on Long Beach Island will impact the liquidity of a specific home and must be accounted for in the listing price and marketing of the home.

For more information about Long Beach Island New Jersey Real Estate Market Liquidity, call text or email me and I will respond right away!

By : Nathan Colmer | 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