The LBI Real Estate Market is Different This Summer

The LBI Real Estate Market is Different This Summer

Why Long Beach Island Real Estate Home Sales are Different This Summer

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Long Beach Island Real Estate

The LBI real estate market has been challange to predict since COVID changed the world in 2020. Many expected a crash in the real estate market, and the opposite took place. Prices rose, and demand soared. Summer, which is usually a slower time for home sales in the LBI real estate market, saw tremendous activity in 2020 as buyers flocked to the market after the shutdown eased. Summer 2021 shows much of the same enthusiasm as 2020. Many visitors to Long Beach Island have entered the sales market partly fueled by low-interest rates and high demand. The LBI real estate market is different this summer for a few reasons:

  • Inventory is low but starting to show signs of improvement
  • Interest rates are low but are slowly increasing
  • Sellers may have an excellent opportunity to get sell right now before the inventory of homes increases

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

The LBI Real Estate Market is Different This Summer

It seems that the LBI real estate market has passed the low point of inventory. There are more homes for sale now than there have been in the past few months. While far from a balanced market, there are about 3-4 months of homes for sale on Long Beach Island, roughly twice the number we saw a year ago. This increase in inventory is unlikely to change the average price point, but it does mean that buyers will have more to pick from. This timing could be perfect because interest rates are also starting to increase. Unless there is a dramatic increase in the number of homes for sale, prices are likely to either stabilize or continue to rise (albeit at a slower pace than we have seen). The addition of inventory coupled with a low-interest-rate environment could signal the perfect time to buy a home. Likewise, sellers in the LBI real estate market should also be aware of the differences we see this summer. As more inventory comes on the market, and it seems likely that more will come on in the fall, a seller may be able to benefit from the lower levels of competition we currently see in the market.

Why Long Beach Island Real Estate Home Sales are Different This Summer

Timing is everything in the LBI real estate market, and it is also impossible to predict. Summer is different in the LBI real estate market this year, that is for sure! Nobody knows where the top or the bottom of the market may be, but right now, there are solid arguments for both buyers and sellers that this is a good time to act. Buyers can benefit from having a little more to pick from while enjoying a lower long-term cost of ownership, and sellers can benefit from having less competition than they will likely face in the future. If you have any questions about buyingselling 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

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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