LBI Real Estate Market Sales Since 2000
Long Beach Island Real Estate Since 2000 
Long Beach Island Real Estate Since 2000 
Long Beach Island Real Estate Since 2000
Long Beach Island Real Estate Market
It is safe to say that the Long Beach Island real estate market has seen some major changes over the last nearly 20 years. Since the year 2000 there have been many ups and downs in the national economy and the local LBI real estate market (think of Hurricane Sandy). There is little doubt that the market is trading rather high right now but it is helpful for buyers and sellers in the LBI real estate market to see where we are in a broad cycle. Long Beach Island Real Estate Since 2000 offers us some insight into the market at large.
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 Since 2000
Below is a chart of all sales (single family homes, duplexes, condos, etc) in the LBI real estate market since the year 2000. It shows us the number of closed sales and the average sales price of a home.
| Primary Year | Sales, Number of | Sale Price, Average |
| 2000 | 794 | $413,954 |
| 2001 | 604 | $481,315 |
| 2002 | 757 | $597,277 |
| 2003 | 655 | $760,800 |
| 2004 | 759 | $853,546 |
| 2005 | 667 | $1,011,164 |
| 2006 | 412 | $1,041,443 |
| 2007 | 534 | $954,687 |
| 2008 | 405 | $971,991 |
| 2009 | 393 | $846,522 |
| 2010 | 402 | $913,860 |
| 2011 | 421 | $822,132 |
| 2012 | 487 | $838,892 |
| 2013 | 411 | $812,115 |
| 2014 | 540 | $841,876 |
| 2015 | 555 | $912,820 |
| 2016 | 621 | $892,414 |
| 2017 | 743 | $972,103 |
| 2018 | 666 | $1,021,701 |
| 2019 | 401 | $992,332 |
The data above shows some interesting trends. For example:
- 2017 was one of the strongest years in overall volume
- The average sales price is still lower than the national high water mark of the market in 2005/2006 despite being a decade ago
- Hurricane Sandy (2013) did not seem to slow the overall market down in overall sales volume
As I mentioned above, there is no doubt the market is high right now. That said it does not seem to be at an all time high or even as high as it was in 2005/2006 based on the above data. For starters, the average price is near those levels with no adjustment for over a decade’s worth of inflation. Secondly, the number of homes being sold is much higher than we saw right before the market crash and low points of 2008-2010 which signals a higher level of confidence in the overall market. It seems that things have slowed down since 2017 with only 401 sales year to date in 2019 (which is still more volume than we saw in several of the years since 2000). If we adjust the 401 to a monthly number and use that to estimate the total year’s sale volume it will still be lower than 2018 and 2017.
Buying and Selling in the Long Beach Island Real Estate Market
Looking at the market as a whole there are some signs of a slow down, especially in the overall sales volume. That said, inventory levels are also very low which no doubt is a contributing factor. Buying or selling a home is a major investment on Long Beach Island. Understanding what determines value is the first step to being a smart home buyer or seller on Long Beach Island. I can give you insight on the overall market and where we are in the cycle. You may also find this section of my website helpful where I track monthly sales in the LBI real estate market. If you have any questions about LBI Real Estate Bayside Single Family Home Sales or 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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