This May Be the Best Time to Buy 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
Three Reasons Why This is a Great Time to Buy a Home in the LBI NJ Real Estate Market 
Three Reasons Why This is a Great Time to Buy a Home in the LBI NJ Real Estate Market 
Three Reasons Why This is a Great Time to Buy a Home in the LBI NJ Real Estate Market
Long Beach Island Real Estate
There is no doubt that the Long Beach Island real estate market has changed in the last year and a half. Prices have risen in demand with falling inventory levels, and all the while, demand has soared. While it is clear that we are in a seller’s market, there are still many buying opportunities in the LBI real estate market. This may be a great time to buy a home in the LBI NJ real estate market!
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
Three Reasons Why This is a Great Time to Buy a Home in the LBI NJ Real Estate Market
While competition is fierce right now, there are three reasons why this may be the best time to buy in the Long Beach Island real estate market. They are:
- Interest rates are low
- Prices are likely to increase
- Inventory has started to improve but is still volatile
Above all else, the low mortgage interest rates we are seeing in the LBI real estate market are perhaps the most compelling reason to buy a home today. Almost every economist agrees that mortgage rates will increase, which means the cost of ownership will rise as well. Even if prices were to fall, something that seems unlikely, a rise in interest rates could mean that a “less expensive” home is actually more expensive to own!
Speaking of prices, all signs point to home prices continuing to rise. Inventory levels are still very low, and demand is still very high. Together, this causes a perfect environment for home prices to increase. Additionally, the real estate market fundamentals, both on Long Beach Island and elsewhere, are generally strong. This is a very different market from 2008, and as such, we do not have underlying factors that contributed to the financial crisis.
Lastly, LBI real estate inventory has improved, giving home buyers more options, but it is still very low compared to a “normal” market. There is still a massive disparity between supply and demand, but buyers now have more to pick from than they did a few months ago. If a buyer understands the market and what determines the value of a home, they can be in a better position to make a move. We also see the supply of homes reverse almost weekly, with gains in one or two weeks being cleared out in the next week or two. It would not take much for inventory to fall back to COVID levels, so this may be a high point in the number of homes for sale.
This May Be the Best Time to Buy in the Long Beach Island Real Estate Market
Above all else, the timing has to be right for you as a buyer in the LBI real estate market. Market conditions will constantly be changing, and there will always be reasons to buy now and reasons to wait if it makes sense to you! Certain conditions in the LBI real estate market suggest that buying a home could make a lot of sense. 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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