LBI Real Estate Bayside Sales 2016-2021
- High Tides Digital Marketing
- May 6, 2021
- 2 min read
Long Beach Island Real Estate Single Family Bayside Home Sales Over the Past Five Years
Long Beach Island Real Estate
Bayside single-family homes in the LBI real estate market have seen some extraordinary growth over the past 5 years. This can be attributed to many factors, including a strong sales market on Long Beach Island, price increases due to COVID, and the comparative affordability of a home in this location. Bayside homes offer several advantages and disadvantages to buyers, so anyone looking to purchase a home in the LBI real estate market right now should familiarize themselves with homes in this location as well as the current market trends. Below are a few points to consider about the bayside single-family home sales market:
Prices have shown some up and down movement over the past 5 years but recently have jumped a great deal
Bayside homes offers "more house" for the money and usually a quiet location
Homes on the bayside will typically have a longer walk to the beach and can be more prone to storm flooding.
LBI Real Estate Bayside Sales 2016-2021
Below is a chart tracking single family home sales in the LBI real estate market on the bayside only over the past five years:
Primary Year | Sales, Number of | Sale Price, Average |
2016 | 203 | $661,128 |
2017 | 241 | $675,606 |
2018 | 223 | $818,846 |
2019 | 223 | $767,580 |
2020 | 308 | $872,058 |
2021 | 79 | $1,098,262 |
A few trends jump out. The average price of a home has seen several ups and downs over the past five years. This goes against the general direction of home sales on LBI, which tends to see a constant upward movement. Of course, that all changed in 2020 where there were far more sales and the average price jumped up. 2021 has seen far fewer sales, but this has to do with the incredibly low number of homes for sale on Long Beach Island. The average price, now over $1,000,000, highlights the popularity of this location and how buyers are willing to compete for a bayside home.
Long Beach Island Real Estate Single Family Bayside Home Sales Over the Past Five Years
Buying a home in the Long Beach Island real estate market requires careful planning and understanding the current market trends. Homes on the bayside offer a lot of appeal for many buyers, but they can be harder to sell and to rent in a slower market. Buyers should be aware of this when planning for the long term. Personally, I live on the bayside and I love it! 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
