LBI Real Estate Daily Market Update February 14th 2023

High Tides Digital Marketing
Feb 14, 2023
2 min read

Long Beach Island NJ (LBI NJ) Real Estate Market Update for February 14th 2023

LBI Real Estate Daily Market Update February 14th 2023

Long Beach Island Real Estate Sales Market Update February 14th 2023

The LBI real estate market showed limited activity, but the activity was interesting! There were only 4 changes to the sales market on Long Beach Island today, and three of them were price reductions!

0 new listings came up for sale in the LBI real estate market
1 home went under contract on LBI
0 homes sold on Long Beach Island
3 homes saw a price reduction in the LBI real estate market

LBI Real Estate Daily Market Update February 14th 2023

Below is a breakdown of all changes and transactions that took place in the LBI real estate market today.

Last Change Type	MLS #	Address	City	Current Price
Price Decrease	NJOC2014300	135-B Long Beach	Long Beach Township	$4,349,999
Price Decrease	NJOC2013774	1035-C Long Beach	Long Beach Township	$7,999,999
Price Decrease	NJOC2012694	2 Tennessee	Long Beach Township	$2,499,999
Pending	NJOC2015740	6715 Ocean Blvd	Long Beach Township	$7,995,000

While activity was limited, it is worth discussion. The three price drops have been on the market for about 3-4 months each. During the height of COVID, homes spent about a week or so on the sales market. Prior to COVID, the average was about six months. Currently, homes are averaging around 2-3 months in the LBI real estate market. Therefore, if a home has not traded in this low inventory and very busy market within the standard timeframe, a price drop is most likely needed as we saw today. The one pending sale will be a record for the south end of LBI, assuming it trades near listing price. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.