Real Estate Sales Transactions in the LBI Real Estate Market
Long Beach Island Real Estate TransactionsLong Beach Island and the LBI Real Estate Market
The LBI real estate market is a major segment of the Long Beach Island economy. Apart from the local real estate agents, the industry creates work for home inspectors, contractors, lenders, mortgage brokers and many other local trades. The LBI real estate market has been consistently busy, even in the wake of Hurricane Sandy, and both sales and rental activity has been strong. If you are looking at buying or selling in the LBI real estate market, it is important to have an understanding of Long Beach Island Real Estate Transactions and how they will impact your decision to buy or sell in the LBI real estate market.
Long Beach Island Real Estate Transactions
The LBI real estate market sees many seasonal trends and as Summer 2013 comes to a close, it is helpful to reflect on the current market activity that has just taken place. Long Beach Island Real Estate Transactions during Summer 2013 produced:
- 83 single family homes sold in the Long Beach Island real estate market ranging in price from $199,000-$over $3.8 million!
- 11 condominiums sold on Long Beach Island during Summer 2013
- 8 Multi Family homes or Duplexes sold in the LBI real estate market
The Long Beach Island Real Estate Transactions highlighted above took place in June, July and August 2013. In addition, there are currently 45 single family homes under contract in the LBI real estate market. Summer tends to produce less Long Beach Island Real Estate Transactions than the fall or spring as summer on Long Beach Island is usually very busy with summer rentals thus making it harder to show and sell homes in the LBI real estate market. As fall approaches, it is common to see many new listings enter the LBI real estate market. This usually leads to an increase in buyer activity as buyers take advantage of new inventory on the market. Even with Hurricane Sandy fresh in the minds of both buyers and seller, with over 100 Long Beach Island Real Estate Transactions taking place in Summer 2013, odds are that the fall real estate market will indeed be busy.
Buying and Selling in the Long Beach Island NJ Real Estate Market
If you are considering buying or selling in the Long Beach Island real estate market, it is important to understand not only Long Beach Island Real Estate Transactions but also the contributing factors to what makes homes sell on LBI. Flood insurance, flood zones and the raising of homes on Long Beach Island are on everyone’s minds and it is essential to understand how these factors will impact the value of a Long Beach Island Real Estate Transaction. If you would like more information about the LBI real estate market or Long Beach Island Real Estate Transactions please do not hesitate to contact me, Nathan Colmer, with any questions and I will be happy to help!
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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