LBI Real Estate Bayside Sales November 2022
- High Tides Digital Marketing
- Nov 30, 2022
- 2 min read
Long Beach Island NJ Real Estate Bayside Single Family Home Sales November 2022
The bayside areas of Long Beach Island have seen strong and steady activity over the past several years. This facet of the LBI real estate market tends to show a high number of sold homes, partly due to the fact some areas of LBI have a disproportionately high number of bayside homes. Surf City for example, has several blocks of bayside homes but only one block of oceanside homes! Much like the rest of the LBI real estate sales market, the bayside and bay block areas have seen the market roughly double since COVID and continue to post strong sales numbers for single-family homes.
LBI Real Estate Bayside Sales November 2022
Below is a chart showing all single-family bayside sales in the LBI real estate market over the past five years. This list is only for single-family homes and does not account for any condos, duplexes or vacant land sales that may have occurred over this period.
Sale Year | Number of Sales | Average Sale Price |
2017 | 241 | $675,606 |
2018 | 223 | $818,846 |
2019 | 223 | $767,580 |
2020 | 308 | $872,058 |
2021 | 235 | $1,169,363 |
2022 | 134 | $1,400,741 |
As you can see, the average price of a single-family bayside home in the LBI real estate market has jumped quite a bit since the market changed. Even the growth in prices between 2021 and 2022 is impressive, most of which took place in tandem with rising interest rates. Notably, the activity has dropped off significantly over the same period, but this is not unique to the bayside. Inventory across the LBI real estate market has dropped to roughly 25% of a pre-COVID inventory level, so the drop in transactions is to be expected.
Long Beach Island NJ Real Estate Bayside Single Family Home Sales November 2022
The bayside offers a good mix for a buyer in the LBI real estate market. Some areas are very near to the beach, thanks to the Island being more narrow. You will also generally get a larger and newer home than you would on the oceanside for the same amount of money. Tracking the bayside sales in the LBI real estate market can help shed some light on the market's overall health, thanks to its popularity among buyers. For more information about buying, selling or investing in the Long Beach Island 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
