LBI Real Estate Daily Market Update August 5th 2024
- High Tides Digital Marketing
- Aug 5, 2024
- 2 min read
Long Beach Island NJ (LBI NJ) Real Estate Market Update for August 5th 2024
Long Beach Island Real Estate Sales Market Update August 5th 2024
Today's LBI real estate market update only showed 4 changes to the sale market, but there is some interesting information to be found in the update! There were no new listings today, but we have seen a small surge of new inventory over the past couple of weeks. This has started to turn into more pending and closed transactions as buyers look to pick up some new listings in the Long Beach Island real estate market. The one pending sale today, 1082-C Long Beach Blvd, will most likely be a knockdown showing that buyers are still willing to invest large sums of money into the LBI real estate market. Today's update is as follows:
0 new listings came up for sale in the LBI real estate market
1 home went under contract on LBI
2 home sold on Long Beach Island
0 homes saw a price reduction in the LBI real estate market
LBI Real Estate Daily Market Update August 5th 2024
Below is a breakdown of all changes and transactions that took place in the LBI real estate market today.
Last Change Type | MLS # | Address | Town | Area | Current Price |
Active Under Contract | NJOC2027128 | 1082-C Long Beach Blvd | Long Beach Township | $1,499,000 | |
Closed | NJOC2018674 | 2705 Beach Ave | Long Beach Township | $2,050,000 | |
Closed | NJOC2026492 | 259 S 2nd St | Surf City | $1,800,000 | |
Withdrawn | NJOC2027106 | 2 W 12th St | Barnegat Light | $1,499,000 |
Today, there was terrible activity in the global equity market, and while this may or may not have an impact on home prices, many are saying this is the start of a recession. This is interesting because, historically, recessions tend to raise the value of hard assets like real estate and gold. This, coupled with some positive downward movement in the mortgage rates, could lead to higher home prices! Demand is still strong in the LBI real estate market and home prices have risen year over year in July...it will be interesting to see what the fall market brings to Long Beach Island! 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
