LBI Real Estate Active Listing Volume and Number of Listings May 2023

High Tides Digital Marketing
May 11, 2023
3 min read

Long Beach Island Real Estate Active Listing Volume and Number of Listings May 2023

LBI Real Estate Active Listing Volume and Number of Listings May 2023

Long Beach Island Real Estate

There is no doubt that the LBI real estate sales market has changed over the past year. The high demand from COVID has slowed down, but home sales on Long Beach Island are still very strong. Inventory levels are near historic lows, and low supply coupled with still high demand leads to stability and a general price increase throughout the LBI real estate market. Anyone looking to buy or sell a home on LBI should be aware of the current trends, and one of the best ways to do this is to look at the current supply of homes for sale. In this update, we will look at the total market value of all homes for sale month by month over the past year and the number of active listings in the Long Beach Island real estate sales market.

LBI Real Estate Active Listing Volume and Number of Listings May 2023

Below is a chart that shows the total "value" of the LBI real estate market and the number of active single-family home listings for sale on Long Beach Island.

Month	Total Value of All Active Listings	Number of Active Listings
Jun-22	$527,460,264	207
Jul-22	$541,595,264	206
Aug-22	$557,046,064	208
Sep-22	$593,088,164	217
Oct-22	$625,383,185	229
Nov-22	$573,582,275	214
Dec-22	$495,233,677	178
Jan-23	$452,532,277	172
Feb-23	$467,955,777	185
Mar-23	$454,910,668	179
Apr-23	$412,903,777	153
May-23	$409,711,678	149

The chart shows us some interesting trends. As expected, the total number of homes for sale in the LBI real estate market has dropped and dropped considerably. There are about 25% fewer homes for sale today than there were a year ago. While inventory has dropped, the total value of the LBI real estate market has risen. If we take a simple average of total market value divided by supply, in June of last year, the average home was priced at around $2,550,000. Today, the average is around $2,750,000. Keep in mind this is just used to demonstrate the total vale of the LBI real estate market and that there are many listings less expensive (or more expensive) than this simple average, but the point is clear that the market is doing very well. Inventory is low, and in spite of higher mortgage rates, the value of the Long Beach Island real estate market has increased.

Long Beach Island Real Estate Active Listing Volume and Number of Listings May 2023

Anyone looking to buy or sell a home in the LBI real estate market needs to understand the market trends. There is a lot of information and a lot of opinions about the past, present and future of home prices on Long Beach Island, but the numbers don't lie. At present, the real estate market on Long Beach Island, as shown by Long Beach Island real estate active listing volume and the number of listings in May 2023, is doing very well. For more information about Long Beach Island or about the LBI real estate market please do not hesitate to contact me.