Should I Sell My Long Beach Island Home Now or Wait Until the Spring?
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Waiting to Sell in the LBI Real Estate Market 
Waiting to Sell in the LBI Real Estate Market 
Waiting to Sell in the LBI Real Estate Market
Long Beach Island Real Estate
If you are considering selling your home in the LBI NJ real estate market, you probably have some questions about the timing. There is no doubt that the real estate market on Long Beach Island has shifted into a more balanced market, but it is still strong and, to a large degree, still favors sellers. While there has been pressure on prices thanks to the rapid rise in interest rates, inventory is still low, and buyer confidence is still high, making a compelling argument to sell your home on Long Beach Island.
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
Waiting to Sell in the LBI Real Estate Market
Inventory is perhaps the most impactful factor in housing prices. While interest rates have increased the cost of owning a home in the LBI real estate market, our market has always been more sensitive to mortgage rates in both directions. The number of homes for sale, in other words, supply and demand, still drives prices in the Long Beach Island real estate market. Right now, inventory is very low. There are about 150 homes for sale on Long Beach Island, while in a pre-COVID market, there were 500-600 homes.
While supply is low, demand is still high. On average, there are 8-15 pending sales in any given week. This is a house or two every day going under contract! While that is lower than the height of the COVID market, it is still a healthy and sustainable amount of buyer activity. Buyers are willing and able to enter into a transaction which tells us that confidence in the future of the LBI real estate market is still high.
Perhaps one of the biggest questions a seller should be asking in the LBI real estate market is what to do with the money once they sell. There is as much uncertainty in the financial markets as in the real estate market right now. If you sell your home, it would be wise to have a plan in place. Otherwise, keeping the home as a rental investment might make more sense.
Should I Sell My Long Beach Island Home Now or Wait Until the Spring?
Selling a home in the LBI real estate market is a personal choice and one that should be undertaken only after careful consideration. Prices on Long Beach Island tend to rise, so by selling now, you might not ever get back on LBI without spending considerably more money. For more information about buying, selling or investing in the Long Beach Island 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
More LBI Real Estate Information:
11 Pitfalls of Maintaining Your LBI Home
How LBI Buyers Are Approaching Rising Interest Rates
Four Key LBI Real Estate Market Trends
Selling Homes in the LBI Real Estate Market