Long Beach Island Real Estate Inventory Levels Are Low!
Click here to search all homes for sale in the Long Beach Island NJ real estate market
There are Fewer Homes for Sale in the LBI Real Estate Market Than You Think! 
There are Fewer Homes for Sale in the LBI Real Estate Market Than You Think! 
There are Fewer Homes for Sale in the LBI Real Estate Market Than You Think!
Long Beach Island Real Estate
The number of homes for sale in the LBI real estate market has been in a steady state of decline for the last 12-18 months. The overwhelming interest in the LBI real estate market has absorbed the majority of homes that were for sale, and many homeowners have decided to keep their homes rather than sell. This has lead to a very low number of homes for sale on Long Beach Island, which has caused the average price of a home to skyrocket. At present, there are only 2-3 months of inventory on Long Beach Island, which is a seller’s market. (in part due to COVID) While these numbers are low, the reality is that the ACTUAL number of homes for sale on Long Beach Island is far less. This has to do with how homes are categorized in the MLS and how the data is reported.
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
There are Fewer Homes for Sale in the LBI Real Estate Market Than You Think!
There are several different statuses for a home in the LBI real estate market. The most common are Active (which means the home is for sale), pending, which means there is a contract on the home) and closed, which means the home has sold. An agent is supposed to put the home into Pending when they have a deal in place, but some agents wait to do this. While the motivation for this inaction varies, agents will often do this so they can continue to market the home for sale in the hopes of picking up leads. This leads to more homes showing as active than are! A home that has asked for a “best and final” offer may also appear to be active when it is, in fact, not. This occurs when a home has received multiple bids and the seller has put a timeline on the acceptance of offers. Once those bids are received, no other offers are usually accepted on the home (but this too can vary from agent to agent). While not technically under contract, the house is also not really “available”. Together, these two widespread scenarios lead to an artificially high number of homes showing for sale. I would personally estimate that around 20%-35% of the current “Active” inventory is, in fact, actually under contract!
Long Beach Island Real Estate Inventory Levels Are Low!
Buying a home in the LBI real estate market is a big investment and should be taken very seriously. It is hard to find a home in the current market (but not impossible). Above all else, buyers need to maintain discipline and understand what determines the value of a home on Long Beach Island. Only then can a buyer make a smart decision. 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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