Four Reasons to Sell Your LBI Home in Summer 2021
- High Tides Digital Marketing
- Jul 30, 2021
- 3 min read
Selling Your Long Beach Island Home May Make Sense in Summer 2021
You can ask anyone right now, and they will tell you the LBI real estate market is a seller's market. There is no doubt of that! Inventory is low, prices have risen over the last year, buyers have an incentive to act right now, and demand is high for a home on Long Beach Island. While these are all valid and understood points, there are few forces at play that can add an extra incentive to sell your Long Beach Island home in Summer 2021. They are:
Your home will spend less time on the market
Competition is high, and most homes have multiple offers
Inventory is likely to increase in the fall
This may be the best time to sell and move into another home
Four Reasons to Sell Your LBI Home in Summer 2021
Prior to COVID, the average sales time for a home in the LBI real estate market was about 180 days. In the current sales climate, a house on Long Beach Island sells in an average of 60 days. Of course, this is an average, with some homes selling faster and others slower, but the takeaway is that the overall time on the market will undoubtedly be less than it has been. Most homes for sale in the LBI real estate market have multiple offers. Note that this is different from a bidding war, but the presence of multiple offers tells us that demand is high. This kind of demand will draw far more attention to your home, which usually leads to less time on the market and a higher sales price. This is a scenario that is likely to change after summer. The timing of the LBI real estate market is such that we usually see more inventory come on the sales market after the summer season. Already we are starting to see an increase in the number of homes for sale on Long Beach Island, so as this trend progresses, the attention afforded your house will fall. Lastly, if you are thinking of buying another home on LBI, this is perhaps the best time to sell. By listing a home for sale in the current market, you can benefit from the low inventory and high buyer demand we currently see while benefiting from less competition. If we account for the average 60 days on the market, listing and selling a home now sets you up for a fall closing. This perfectly aligns with when more inventory should be on the market and gives you the best of both scenarios.
Selling Your Long Beach Island Home May Make Sense in Summer 2021
Of course, nobody can predict the future of the LBI real estate market, and there are many ways for the trends we are currently witnessing to change. That said, there are genuine opportunities for sellers in the current LBI real estate market. If you are considering selling, you should at the very least explore the options available to you. 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
