The LBI Real Estate Market Only Has About 20% of a “Normal” Market
Long Beach Island Real Estate Market Inventory Levels 
Long Beach Island Real Estate Market Inventory Levels 
Long Beach Island Real Estate Market Inventory Levels
Long Beach Island Real Estate
There is no doubt that the two most significant challenges facing buyers in the LBI real estate market are mortgage rates and inventory levels. While historically, interest rates do not significantly impact buyer activity on Long Beach Island, the number of homes certainly does. Currently, there is only around 20% of a pre-COVID market inventory for sale on Long Beach Island. This is a shockingly low number, and there is no doubt this impacts home prices, days on the market, and the overall buyer behavior.
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
Long Beach Island Real Estate Market Inventory Levels
The number of homes for sale on Long Beach Island is genuinely shocking. Prior to COVID, there were roughly 500-600 homes for sale on LBI. This was a “balanced” market with approximately 3%-5% yearly price appreciation. Currently, only around 100-125 homes are for sale on LBI. This is a significant drop from the height of the market, and there is no clear path in which this number will improve. The lowest number of homes we have seen for sale since the COVID market began was about 75, so we are still near the bottom. These numbers look even worse when one considers that at any point, about 10% of the market is actually under contract with homes in attorney review, or the status of the home is not correctly reflected in the MLS data.
The LBI Real Estate Market Only Has About 20% of a “Normal” Market
Buyers and sellers in the LBI real estate market have very different options in front of them. Sellers obviously benefit the most from this climate as there are fewer homes to pick from, and demand is still very strong. Listing a home in the current market will draw lots of attention and likely result in multiple offers if priced correctly. Buyers need to be far more careful. There are still good investment opportunities in the LBI real estate market, but now, more than ever, buyers have to be careful to understand the market and not rush into a purchase. Patience and knowledge are the keys to navigating a home purchase in the current market. For more information about Long Beach Island or about 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
More LBI Real Estate Information:
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Flood Zones and Buying Long Beach Island Real Estate
What Does an LBI Real Estate Seller’s Market Look Like Today