Long Beach Island Real Estate is Booming
Why is the LBI Real Estate Market on Fire? 
Why is the LBI Real Estate Market on Fire? 
Why is the LBI Real Estate Market on Fire?
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 is experiencing a level of activity that has almost no historical parallel. We are in a seller’s market, and buyer activity is through the roof. With inventory levels being at a historic low, buyers and sellers in the Long Beach Island real estate market need to understand what is happening and why. In short, the activity can be attributed to three main reasons:
- COVID-19
- Low inventory levels
- Low-interest rates
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
Why is the LBI Real Estate Market on Fire?
The root cause of the activity we are witnessing is Coronavirus. This life-changing event has upended the entire world, and the real estate market on LBI is no exception. Home sales on Long Beach Island were robust even before COVID took over our lives, and they want to leave the more populated areas for an “escape” that has only increased the activity in the market. Buyers see the value of having a home to visit and avoid the city’s chaos, and the beach is a perfect place to live. Inventory levels are, as I mentioned, at a historical low point. Fewer homes for sale on LBI can add to the increased demand in the market as buyers seek fewer “good” properties. As competition increases, new listings will draw attention, and buyers will react in kind. Lastly, interest rates are inexpensive. While the Long Beach Island sales market is not as sensitive to interest rates as some markets, cheap money does help fuel buyer demand. As a result, the increase in sales prices we have seen have been partially offset by the lower cost of funds.
Buying in the Long Beach Island Real Estate Market
The real estate market on Long Beach Island is changing and evolving daily. Above all else, buyers and sellers must remain disciplined and focus on what creates value on LBI. It is easy to make a mistake in this market, and understanding what is driving prices, and activity higher is a crucial component to buying or selling. 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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