How Homes in the LBI Real Estate Market Sell With and Without Price Reductions
- Nathan Colmer
- 13 hours ago
- 3 min read
LBI Real Estate Sellers
Discover how pricing strategies impact home sales in the LBI real estate market. Learn the difference between homes that sell with price reductions versus those that sell without, including average sale prices, days on market, and tips for sellers.
By: Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Information to Help Sell LBI Real Estate
When it comes to the LBI real estate market, pricing strategy can make or break a sale. One of the most common questions sellers ask is: Does reducing the price help a home sell faster? To answer that, we analyzed recent Long Beach Island sales data to compare homes that sold with a price reduction versus those that sold without a price reduction.
Homes With Price Reductions
Our review of recent transactions shows that homes with a price reduction tend to stay on the market longer and sell for less relative to their last list price. On average:
Average Sales Price: $2,689,455
Average Sale-to-List Ratio: 93.1%
Average Days on Market: 121.6 days
This means that while these homes eventually sold, they required more time and often closed below their final asking price.
Homes Without Price Reductions in the LBI Real Estate Market
Homes that maintained their original listing price performed better in several key areas:
Average Sales Price: $2,154,667
Average Sale-to-List Ratio: 98.6%
Average Days on Market: 35.2 days
These properties sold faster and closer to their asking price, showing that accurate initial pricing is critical in the competitive LBI real estate market.
What This Means for Sellers on Long Beach Island
If you’re planning to sell your home on Long Beach Island, setting the right price from the start is essential. Overpricing can lead to extended time on the market and eventual price reductions, which often result in lower sale-to-list ratios. Conversely, homes priced correctly from day one tend to sell quickly and for closer to the asking price.
Key Takeaways
Homes with price reductions averaged nearly four times longer on the market.
Correct pricing upfront leads to faster sales and stronger offers.
The LBI real estate market rewards strategic pricing.
If you are looking to buy, sell, or invest in the LBI real estate market, contact me, Nathan Colmer, for expert guidance backed by years of local experience, deep market insight, and a proven track record in helping clients navigate LBI's unique market. My experience extends over 20 years of selling homes on Long Beach Island, with a special focus on second homes and investment properties. In addition to representing buyers and sellers, I personally invest in the LBI real estate market and can share my firsthand knowledge of this investment strategy. Whether you are searching for a vacation home, planning a wise investment, or ready to list your property, I can offer you personalized strategies and unmatched knowledge to help you succeed.
By: Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com