LBI Real Estate Daily Market Update January 18th 2023

Jan 18, 2023
2 min read

Long Beach Island NJ (LBI NJ) Real Estate Market Update for January 18th 2023

LBI Real Estate Daily Market Update January 18th 2023

Long Beach Island Real Estate Sales Market Update January 18th 2023

The LBI real estate market saw a good mix of activity today. This furthers the trend of a balanced market. We have seen a few more new listings come on the market, which is typically for this time of year, and now we are starting to see more and more pending sales as buyers take advantage of this new inventory. Activity for today was as follows in the Long Beach Island real estate market:

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

LBI Real Estate Daily Market Update January 18th 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
Coming Soon	NJOC2015924	2702-Long Beach Blvd	Ship Bottom	$759,000
New Active	NJOC2015802	39 N 17th St	Surf City	$1,999,000
New Active	NJOC2015800	101 N 1st Street	Surf City	$2,199,000
Price Decrease	NJOC2015294	12904 Long Beach	Long Beach Township	$1,450,000
Active Under Contract	NJOC2015852	4206 Long Beach #E	Long Beach Township	$995,000
Pending	NJOC2014964	1504 Long Beach	Long Beach Township	$1,099,999
Closed	NJOC407486	445 Engleside Ave	Beach Haven	$1,660,000
Expired	NJOC2009500	1096-C Long Beach	Long Beach Township	$1,849,000

Inventory remains low in the LBI real estate market, with around 100 single-family homes for sale. Interest rates have seen a steady fall and are now in the low to mid 5% range for many buyers. This is welcome news and makes the cost of ownership much better when buying a home on Long Beach Island. Of course, rates will vary from borrower to borrower, so if you are considering buying a home in the LBI real estate market, now would be a good time to check with a lender to see where you stand. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.