Inventory Remains a Challenge in the LBI Real Estate Market

High Tides Digital Marketing
Mar 31, 2020
2 min read

Inventory Levels, Not Coronavirus, Prove a Challenge to the Long Beach Island Real Estate Market

Long Beach Island Real Estate and the Number of Homes for Sale

While the real estate news today is almost non-stop reporting on the coronavirus, there is an even greater difficulty facing buyers on Long Beach Island. Inventory Remains a Challenge in the LBI Real Estate Market. The stock market has taken a hard hit, and there is great fear in all markets globally; however, it will pass. I am confident that we are in a recession, but that too shall give. What should concern buyers in the LBI real estate market are the number of homes for sale (or lack thereof) and the impact coronavirus will have on current and future inventory levels.

Inventory Remains a Challenge in the LBI Real Estate Market

Below is a chart of the number of new listings that have come on the Long Beach Island real estate market each month and the number of homes for sale over the past five years. The chart looks at only January and February so we can compare 2020 to the prior year's performances.

Month	New Listings	Active Listings
Jan-15	152	802
Feb-15	103	847

Month	New Listings	Active Listings
Jan-16	126	781
Feb-16	144	846

Month	New Listings	Active Listings
Jan-17	164	743
Feb-17	104	761

Month	New Listings	Active Listings
Jan-18	116	653
Feb-18	143	719

Month	New Listings	Active Listings
Jan-19	133	688
Feb-19	152	763

Month	New Listings	Active Listings
Jan-20	104	581
Feb-20	125	595

As you can see, the number of homes for sale is far less than we have seen in the past five years, and while February 2020 saw an increase in the number of new listings, this is still a much lower number than in previous years. Likely, COVID-19 will only further this trend as homeowners are more reluctant to have strangers in their homes during this era of social distancing.

Buying in the Long Beach Island Real Estate Market

Buying a home in the Long Beach Island real estate market is all about timing. There are "better" and "worse" times of the year in which to complete an LBI real estate transaction, and with inventory levels being low, buyers have to take care to exercise patience when searching for a home. There are opportunities in the market, of course, and by understanding what creates value in the LBI real estate market, a buyer can position themselves very well. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.