Inventory is Rising 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
What Do More Homes For Sale on LBI Mean for Buyers? 
What Do More Homes For Sale on LBI Mean for Buyers? 
What Do More Homes For Sale on LBI Mean for Buyers?
Long Beach Island Real Estate
One of the most impactful conditions in the LBI real estate market, partly as a result of COVID, is the supply of homes. Or, more accurately stated, the lack of supply of homes for sale. Low inventory has lead to many homes receiving multiple offers, and the simple law of supply and demand has caused prices to increase. Now, we are starting to see indications that inventory levels may have reached their low point as the number of homes for sale in the LBI real estate market appears to be rising slowly. So, what do more homes for sale on LBI mean for buyers?
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
What Do More Homes For Sale on LBI Mean for Buyers?
The addition of more homes for sale in the Long Beach Island real estate market is a welcome sight to most buyers. Having more inventory to pick from should reduce the number of offers on a home, but it could also have the opposite effect. Demand is still very high, and many buyers are waiting on the sidelines for the “right” house to come up. As more homes come on the market for sale, more buyers might also enter the market. One of the chief concerns most buyers in the LBI real estate market have right now is buying at the height of the market. While this is a valid concern, it is crucial to understand where we are in the market cycle. There are about 3-4 months of supply of homes for sale on Long Beach Island. The accepted industry standard for a balanced real estate market is usually around 6-7 months of inventory. Therefore, we still have a ways to go before the market is balanced, let alone starts to fall.
Inventory is Rising in the Long Beach Island Real Estate Market
At present, it seems the most likely impact of having more homes for sale in the LBI real estate market is having more selections. Barring some unforeseen circumstances, it is unlikely that the addition of homes will cause a drop in prices. The supply of homes for sale in the Long Beach Island real estate market is the single most significant driver of home prices, so we have to monitor this statistic closely. If more homes enter the market than expected and we see a dramatic increase in inventory, buyers may want to re-evaluate their plans. 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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