Deciding to Buy or Sell a Home in the Long Beach Island Real Estate Market
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Making a Decision in the LBI Real Estate Market 
Making a Decision in the LBI Real Estate Market 
Making a Decision in the LBI Real Estate Market
Long Beach Island Real Estate
I think anyone would agree that the word is a very different place today than it was one year ago. Nobody could have guessed at the widespread changes that have occurred since COVID changed our lives, and likewise, nobody can predict what the future holds. Those looking to buy or sell a home in the LBI real estate market, not knowing what the future holds, makes deciding on the LBI real estate market all that much harder. There are strong cases to buy or sell now, and there are equally strong cases to wait before entering into a transaction. The truth is, nobody knows the answer, but there are some trends, both current and historical, that can help to give us some guidance.
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
Making a Decision in the LBI Real Estate Market
The Long Beach Island real estate market is in a strange place. It is BOTH a buyers AND a seller’s market. Sellers can benefit from the high demand we have witnessed, in large part thanks to Coronavirus, coupled with the low levels of inventory. Buyers can benefit from the absurdly low-interest rates we see, thanks to the economic impact of COVID. There are incentives for both sides to enter into a transaction on Long Beach Island. While nobody knows what will come, there are some predictions we can make. Barring some major catastrophe, either physical like a hurricane or economic like another massive shutdown, it is likely that prices will continue to rise on Long Beach Island for another year or so at least. Inventory is so low that even if a significant number of buyers left the market, there would still be plenty of buyers to go around. Supply and demand point to prices rising as a result. While it is true that a rise in interest rates, wholly possible with more and more positive news coming out, can drive some buyers out, the LBI real estate market has never been that sensitive to interest rates. It is more likely that there will be no real change in prices if rates go up a quarter or half point. All that will change is the cost of owning a home will rise.
Deciding to Buy or Sell a Home in the Long Beach Island Real Estate Market
So, while nobody knows where the LBI real estate market is heading, it seems likely that prices will stay strong for some time yet. This makes the argument that this is the time to buy. Sellers could benefit from holding their home a little while longer and trying to ride the price wave upwards, but there is never a guarantee of where the top is. Each buyer and seller has to do what’s best for them. It is impossible to time a market peak, so it is far better to stay disciplined, stick to what determines value in the LBI real estate market, and make the most informed decision possible. 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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