How the Listing Price of a Home Impacts Long Beach Island Real Estate Market Time
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Why Listing Price Matters in the LBI Real Estate Market 
Why Listing Price Matters in the LBI Real Estate Market 
Why Listing Price Matters in the LBI Real Estate Market
Long Beach Island Real Estate
There are many steps involved in selling a home on Long Beach Island, and above all else, understanding Why Listing Price Matters in the LBI Real Estate Market reigns supreme. An overpriced home will sit on the market no matter how many advertising dollars are spent or open houses take place. There is too much data available to buyers these days to have an outlier in price. By establishing a fair and right price for a house, a seller in the LBI real estate market can expect to see a higher net proceed and a shorter amount of time on the market (which lessens holding costs and also increases the total net return).
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 Listing Price Matters in the LBI Real Estate Market
Price matters for one simple reason. Buyers shop within a budget. By pricing a home at or even a little below market value, interest in the house should be intense. This can ultimately lead to multiple offers if the home is well enough received. If a buyer or buyers in the LBI real estate market see a home that is well priced and presents well (with the right photos, marketing, etc.), it will draw excitement and attention that will result in a sale. On the flip side, if a home is overpriced, it will sit on the market, and statistics tell us that it will result in a lower net proceed. The following data speaks for itself taken from closed transactions over the past 30 days in the LBI real estate market:
8 price drops
The average price was 816,063 with a median price of $702,500
Homes sold for 94.12% of the listing price at the time of the sale and spent 132 days on the market
25 homes did not reduce their price
The average price was $1,061,540 with a median price of $964,000
Homes sold for 96.33% of the list price and spent 62 days on the market
Listing and Selling in the Long Beach Island Real Estate Market
When selling a home, you have to examine all opportunities and pay attention to what the market and the data tells you. Price matters, and as you can see from the data, the sellers who priced their home correctly from the start received a contract price +/- 2% higher, with a much higher average/median price and spent half the time on the market! 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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